Cardinal Health, Inc. (NYSE:CAH) Given Consensus Rating of “Hold” by Analysts

Cardinal Health, Inc. (NYSE:CAH) has received a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $109.67.

Several equities research analysts have recently issued reports on the company. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, July 22nd. Robert W. Baird lifted their price target on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Wells Fargo & Company reduced their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Citigroup reduced their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Evercore ISI cut their price objective on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th.

Institutional Trading of Cardinal Health

Institutional investors and hedge funds have recently modified their holdings of the company. Clearstead Trust LLC bought a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health during the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. increased its position in shares of Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares during the period. YHB Investment Advisors Inc. acquired a new stake in Cardinal Health in the 1st quarter valued at $32,000. Finally, LRI Investments LLC bought a new stake in Cardinal Health in the first quarter valued at $32,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Down 1.7 %

Shares of NYSE CAH opened at $101.60 on Wednesday. Cardinal Health has a one year low of $85.11 and a one year high of $116.04. The firm has a market capitalization of $24.75 billion, a PE ratio of 45.16, a PEG ratio of 1.14 and a beta of 0.61. The business has a 50-day moving average price of $98.44 and a two-hundred day moving average price of $103.42.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.74 EPS. Research analysts anticipate that Cardinal Health will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.5056 per share. The ex-dividend date was Monday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.99%. Cardinal Health’s payout ratio is currently 89.78%.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.