Cardinal Health (NYSE:CAH) Shares Gap Down to $108.19

Cardinal Health, Inc. (NYSE:CAH)’s share price gapped down prior to trading on Monday . The stock had previously closed at $108.19, but opened at $103.85. Cardinal Health shares last traded at $101.78, with a volume of 2,369,935 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAH. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. SVB Leerink initiated coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. Barclays initiated coverage on Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective on the stock. UBS Group lifted their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.07.

Cardinal Health Price Performance

The company has a 50 day moving average price of $109.59 and a two-hundred day moving average price of $104.41. The stock has a market cap of $25.09 billion, a PE ratio of 40.06, a PEG ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is presently 78.74%.

Institutional Trading of Cardinal Health

Several hedge funds have recently bought and sold shares of CAH. Ameriprise Financial Inc. boosted its stake in Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after buying an additional 1,862,291 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Cardinal Health by 0.9% in the third quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock worth $290,026,000 after buying an additional 28,412 shares during the period. Pacer Advisors Inc. raised its position in Cardinal Health by 17.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock valued at $264,052,000 after purchasing an additional 389,431 shares in the last quarter. Norges Bank bought a new stake in Cardinal Health during the 4th quarter valued at $258,499,000. Finally, AQR Capital Management LLC increased its holdings in shares of Cardinal Health by 0.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock valued at $216,749,000 after acquiring an additional 19,287 shares during the period. Institutional investors own 87.17% of the company’s stock.

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.