Cardinal Health (NYSE:CAH) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $4.90-5.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.00. Cardinal Health also updated its FY 2019 guidance to $4.90-5.15 EPS.
Several research firms recently commented on CAH. Royal Bank of Canada set a $57.00 target price on shares of Cardinal Health and gave the stock a hold rating in a research report on Friday. Zacks Investment Research downgraded shares of Cardinal Health from a hold rating to a sell rating in a research report on Tuesday, October 9th. Argus cut their target price on shares of Cardinal Health from $85.00 to $75.00 and set a buy rating on the stock in a research report on Monday, July 16th. Robert W. Baird cut their target price on shares of Cardinal Health from $51.00 to $50.00 and set a neutral rating on the stock in a research report on Tuesday, August 7th. Finally, Mizuho reiterated a hold rating and set a $53.00 target price on shares of Cardinal Health in a research report on Sunday, August 12th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $61.08.
Cardinal Health stock opened at $55.31 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.07 and a quick ratio of 0.53. Cardinal Health has a 52-week low of $48.14 and a 52-week high of $75.75. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.70 and a beta of 0.94.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be issued a dividend of $0.4763 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.91 annualized dividend and a yield of 3.44%. Cardinal Health’s payout ratio is 38.20%.
Cardinal Health declared that its board has initiated a stock repurchase program on Thursday, November 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other news, CEO Jon L. Giacomin sold 2,890 shares of Cardinal Health stock in a transaction on Monday, August 20th. The shares were sold at an average price of $51.95, for a total value of $150,135.50. Following the completion of the sale, the chief executive officer now owns 72,652 shares in the company, valued at approximately $3,774,271.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.
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About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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