Brokerages Set Cardinal Health Inc. (NYSE:CAH) PT at $94.94
Cardinal Health Inc. (NYSE:CAH) has been assigned an average rating of “Buy” from the seventeen brokerages that are covering the stock. Eight analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $94.94.
A number of equities research analysts recently issued reports on the company. Bank of America Corp. reaffirmed a “hold” rating and issued a $90.00 target price on shares of Cardinal Health in a research note on Monday, September 19th. Royal Bank Of Canada reiterated a “buy” rating on shares of Cardinal Health in a report on Monday, June 13th. Deutsche Bank AG boosted their price target on Cardinal Health from $83.00 to $89.00 and gave the company a “hold” rating in a report on Thursday, August 4th. Leerink Swann reiterated a “buy” rating on shares of Cardinal Health in a report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. downgraded Cardinal Health from a “buy” rating to a “neutral” rating and cut their price target for the company from $90.00 to $83.00 in a report on Friday, September 16th.
Cardinal Health (NYSE:CAH) opened at 77.70 on Friday. The company has a 50-day moving average price of $79.42 and a 200-day moving average price of $80.34. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of 17.99 and a beta of 0.59. Cardinal Health has a 12-month low of $73.25 and a 12-month high of $91.23.
Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. Cardinal Health had a return on equity of 26.09% and a net margin of 1.17%. The firm had revenue of $31.40 billion for the quarter, compared to analyst estimates of $31.06 billion. During the same quarter in the prior year, the company earned $1.00 EPS. Cardinal Health’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts forecast that Cardinal Health will post $5.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be given a $0.4489 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.31%. Cardinal Health’s payout ratio is currently 41.67%.
In other Cardinal Health news, SVP Stuart G. Laws sold 9,703 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $82.45, for a total value of $800,012.35. Following the completion of the transaction, the senior vice president now directly owns 2,718 shares of the company’s stock, valued at approximately $224,099.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Craig S. Morford sold 12,697 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $83.13, for a total transaction of $1,055,501.61. Following the completion of the transaction, the insider now directly owns 90,811 shares of the company’s stock, valued at $7,549,118.43. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of CAH. Cohen & Steers Inc. boosted its position in Cardinal Health by 36,541.4% in the second quarter. Cohen & Steers Inc. now owns 37,044,411 shares of the company’s stock worth $980,195,000 after buying an additional 36,943,311 shares during the last quarter. Wellington Management Group LLP boosted its position in Cardinal Health by 3.4% in the first quarter. Wellington Management Group LLP now owns 33,248,030 shares of the company’s stock worth $2,724,677,000 after buying an additional 1,108,446 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Cardinal Health by 114.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 12,520,106 shares of the company’s stock worth $976,694,000 after buying an additional 6,681,725 shares during the last quarter. Macquarie Group Ltd. boosted its position in Cardinal Health by 12.5% in the second quarter. Macquarie Group Ltd. now owns 8,990,816 shares of the company’s stock worth $701,373,000 after buying an additional 995,820 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in Cardinal Health by 4.9% in the second quarter. BlackRock Fund Advisors now owns 4,770,431 shares of the company’s stock worth $372,141,000 after buying an additional 222,666 shares during the last quarter. 85.79% of the stock is owned by institutional investors.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States, the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers, hospitals and other healthcare providers.
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