Cleveland Research downgraded shares of Cardinal Health Inc. (NYSE:CAH) from a buy rating to a neutral rating in a research report report published on Monday morning.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada reaffirmed a buy rating on shares of Cardinal Health in a report on Monday, June 13th. Leerink Swann reaffirmed a buy rating on shares of Cardinal Health in a report on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed a buy rating and issued a $97.00 price target on shares of Cardinal Health in a report on Tuesday, August 30th. Goldman Sachs Group Inc. reaffirmed a buy rating on shares of Cardinal Health in a report on Wednesday, July 6th. Finally, FBR & Co reaffirmed a buy rating on shares of Cardinal Health in a report on Monday, June 20th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $94.76.

Analyst Recommendations for Cardinal Health (NYSE:CAH)

Shares of Cardinal Health (NYSE:CAH) traded down 0.766% during midday trading on Monday, hitting $75.884. The company’s stock had a trading volume of 135,495 shares. The stock’s 50 day moving average is $78.30 and its 200-day moving average is $80.13. Cardinal Health has a 52-week low of $73.25 and a 52-week high of $91.23. The firm has a market cap of $24.18 billion, a P/E ratio of 17.566 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, topping 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 the consensus estimate of $31.06 billion. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. Equities analysts predict that Cardinal Health will post $5.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.4489 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, September 29th. Cardinal Health’s dividend payout ratio is 41.67%.

In other Cardinal Health news, Chairman George S. Barrett sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $83.63, for a total transaction of $20,907,500.00. Following the completion of the transaction, the chairman now owns 510,762 shares of the company’s stock, valued at $42,715,026.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stuart G. Laws sold 9,703 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $82.45, for a total transaction of $800,012.35. Following the transaction, the senior vice president now directly owns 2,718 shares of the company’s stock, valued at approximately $224,099.10. The disclosure for this sale can be found here. Company insiders own 0.94% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new position in shares of Cardinal Health during the first quarter worth $107,000. Integrated Investment Consultants LLC increased its position in shares of Cardinal Health by 15.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,459 shares of the company’s stock worth $114,000 after buying an additional 195 shares in the last quarter. JFS Wealth Advisors LLC increased its position in shares of Cardinal Health by 8,281.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,760 shares of the company’s stock worth $137,000 after buying an additional 1,739 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Cardinal Health by 398.2% in the second quarter. Advisory Services Network LLC now owns 1,948 shares of the company’s stock worth $152,000 after buying an additional 1,557 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Cardinal Health by 27.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,480 shares of the company’s stock worth $193,000 after buying an additional 530 shares in the last quarter. 85.79% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Company Profile

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.

5 Day Chart for NYSE:CAH

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