Credit Suisse Group reaffirmed their outperform rating on shares of Cardinal Health, Inc. (NYSE:CAH) in a research note published on Thursday, July 13th, The Fly reports. The firm currently has a $87.00 price target on the stock, up from their prior price target of $81.00.
Several other brokerages have also commented on CAH. Needham & Company LLC assumed coverage on shares of Cardinal Health in a research note on Tuesday, April 4th. They set a hold rating on the stock. Evercore ISI upgraded shares of Cardinal Health to an outperform rating in a research note on Thursday, April 6th. Zacks Investment Research lowered shares of Cardinal Health from a hold rating to a sell rating in a research note on Tuesday, July 4th. BidaskClub lowered shares of Cardinal Health from a strong-buy rating to a buy rating in a research note on Tuesday, July 11th. Finally, ValuEngine downgraded shares of Cardinal Health from a buy rating to a hold rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $80.46.
Cardinal Health (NYSE:CAH) opened at 66.98 on Thursday. Cardinal Health has a 12 month low of $62.70 and a 12 month high of $84.88. The company has a 50-day moving average price of $75.67 and a 200 day moving average price of $76.86. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 16.62 and a beta of 0.80.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping 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 in the prior year, the business posted $1.14 EPS. Cardinal Health’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts predict that Cardinal Health will post $4.97 earnings per share for the current year.
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The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, September 29th. Cardinal Health’s dividend payout ratio is currently 45.79%.
A number of hedge funds and other institutional investors have recently made changes to their positions in CAH. River Road Asset Management LLC raised its stake in shares of Cardinal Health by 28.9% in the first quarter. River Road Asset Management LLC now owns 885,861 shares of the company’s stock worth $72,242,000 after buying an additional 198,554 shares in the last quarter. Bank of Montreal Can raised its stake in Cardinal Health by 6.2% in the first quarter. Bank of Montreal Can now owns 609,732 shares of the company’s stock valued at $49,725,000 after buying an additional 35,436 shares during the period. CWM LLC raised its stake in Cardinal Health by 15.6% in the first quarter. CWM LLC now owns 331,531 shares of the company’s stock valued at $27,036,000 after buying an additional 44,689 shares during the period. Morgan Stanley raised its stake in Cardinal Health by 24.6% in the first quarter. Morgan Stanley now owns 2,035,339 shares of the company’s stock valued at $165,981,000 after buying an additional 402,151 shares during the period. Finally, Iowa State Bank raised its stake in Cardinal Health by 3.4% in the first quarter. Iowa State Bank now owns 20,569 shares of the company’s stock valued at $1,677,000 after buying an additional 675 shares during the period. 87.09% of the stock is currently owned by hedge funds and other institutional investors.
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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