Traders Buy Shares of Cardinal Health, Inc. (CAH) on Weakness
Investors purchased shares of Cardinal Health, Inc. (NYSE:CAH) on weakness during trading on Monday. $41.80 million flowed into the stock on the tick-up and $23.94 million flowed out of the stock on the tick-down, for a money net flow of $17.86 million into the stock. Of all companies tracked, Cardinal Health had the 21st highest net in-flow for the day. Cardinal Health traded down ($0.22) for the day and closed at $66.76
CAH has been the topic of a number of research analyst reports. William Blair lowered shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 19th. Jefferies Group LLC initiated coverage on shares of Cardinal Health in a research report on Wednesday, May 17th. They issued a “hold” rating and a $77.00 target price on the stock. ValuEngine lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Vetr upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 target price on the stock in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. Cardinal Health presently has an average rating of “Hold” and an average price target of $80.46.
The company has a 50-day moving average price of $74.93 and a 200 day moving average price of $76.79. The firm has a market cap of $20.99 billion, a P/E ratio of 16.48 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last released its earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter last year, the firm earned $1.14 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that Cardinal Health, Inc. will post $4.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio is currently 45.79%.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Cardinal Health by 1.9% in the second quarter. Vanguard Group Inc. now owns 23,642,277 shares of the company’s stock valued at $1,842,205,000 after buying an additional 440,967 shares in the last quarter. BlackRock Inc. raised its position in Cardinal Health by 6.5% in the second quarter. BlackRock Inc. now owns 22,843,418 shares of the company’s stock valued at $1,779,958,000 after buying an additional 1,398,496 shares in the last quarter. State Street Corp raised its position in Cardinal Health by 1.1% in the first quarter. State Street Corp now owns 16,790,201 shares of the company’s stock valued at $1,369,247,000 after buying an additional 176,331 shares in the last quarter. Franklin Resources Inc. raised its position in Cardinal Health by 72.1% in the second quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock valued at $489,613,000 after buying an additional 2,632,836 shares in the last quarter. Finally, FMR LLC raised its position in Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock valued at $482,391,000 after buying an additional 1,895,089 shares in the last quarter. 86.41% of the stock is currently owned by institutional investors.
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About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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