Deutsche Bank initiated coverage on shares of Cardinal Health (NYSE:CAH) in a research note published on Monday morning, Marketbeat reports. The firm issued a hold rating and a $64.00 price objective on the stock.
Several other research firms also recently commented on CAH. UBS reiterated a neutral rating and set a $76.00 price objective (down from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Cardinal Health from a hold rating to a sell rating in a research note on Monday, August 7th. Needham & Company LLC reiterated a hold rating on shares of Cardinal Health in a research note on Sunday, September 10th. Robert W. Baird reissued a hold rating and set a $73.00 target price on shares of Cardinal Health in a report on Sunday, September 17th. Finally, Royal Bank Of Canada assumed coverage on shares of Cardinal Health in a report on Tuesday, September 19th. They set a sector perform rating and a $72.00 target price for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $73.91.
Shares of Cardinal Health (NYSE:CAH) opened at $59.72 on Monday. Cardinal Health has a one year low of $54.66 and a one year high of $84.88. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The company has a market cap of $18,986.33, a price-to-earnings ratio of 11.45, a PEG ratio of 1.75 and a beta of 0.85.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.4624 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.85 annualized dividend and a dividend yield of 3.10%. Cardinal Health’s dividend payout ratio (DPR) is presently 53.78%.
Several institutional investors have recently modified their holdings of CAH. Franklin Resources Inc. increased its holdings 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. Ameriprise Financial Inc. increased its holdings in Cardinal Health by 71.4% in the second quarter. Ameriprise Financial Inc. now owns 3,557,123 shares of the company’s stock valued at $277,191,000 after buying an additional 1,482,285 shares in the last quarter. BlackRock Inc. increased its holdings 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. American Century Companies Inc. increased its holdings in Cardinal Health by 58.7% in the third quarter. American Century Companies Inc. now owns 2,976,776 shares of the company’s stock valued at $199,206,000 after buying an additional 1,100,507 shares in the last quarter. Finally, HealthCor Management L.P. purchased a new position in Cardinal Health in the second quarter valued at $84,496,000. 88.47% of the stock is owned by hedge funds and other institutional investors.
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Cardinal Health Company Profile
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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