Cardinal Health Inc (NYSE:CAH) was down 5.7% on Monday . The stock traded as low as $45.92 and last traded at $46.07. Approximately 4,290,722 shares traded hands during trading, an increase of 33% from the average daily volume of 3,229,023 shares. The stock had previously closed at $48.85.
Several equities research analysts have weighed in on CAH shares. ValuEngine downgraded Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a report on Monday, February 11th. UBS Group started coverage on Cardinal Health in a report on Thursday, January 17th. They set a “neutral” rating and a $51.00 price target on the stock. Guggenheim started coverage on Cardinal Health in a report on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price target on the stock. Finally, Wolfe Research assumed coverage on Cardinal Health in a report on Tuesday, April 2nd. They set an “underperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $56.20.
The firm has a market cap of $13.73 billion, a P/E ratio of 9.21, a PEG ratio of 1.46 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.07 and a quick ratio of 0.54.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.4811 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.17%. Cardinal Health’s dividend payout ratio is 38.20%.
Several hedge funds and other institutional investors have recently made changes to their positions in CAH. Vanguard Group Inc boosted its position in shares of Cardinal Health by 22.0% in the 3rd quarter. Vanguard Group Inc now owns 28,021,950 shares of the company’s stock valued at $1,513,186,000 after purchasing an additional 5,058,369 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Cardinal Health by 4,912.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,698,476 shares of the company’s stock valued at $105,000 after purchasing an additional 4,604,746 shares during the period. Norges Bank acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $133,685,000. BlackRock Inc. boosted its position in shares of Cardinal Health by 8.9% in the 4th quarter. BlackRock Inc. now owns 26,135,772 shares of the company’s stock valued at $1,165,655,000 after purchasing an additional 2,134,377 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Cardinal Health by 2,634.7% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,469,279 shares of the company’s stock valued at $70,746,000 after purchasing an additional 1,415,551 shares during the period. 87.67% of the stock is owned by hedge funds and other institutional investors.
Cardinal Health Company Profile (NYSE:CAH)
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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