Cardinal Health Inc (CAH) Given Consensus Recommendation of “Hold” by Brokerages

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Shares of Cardinal Health Inc (NYSE:CAH) have been assigned an average recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $60.55.

A number of brokerages recently weighed in on CAH. Robert W. Baird cut their price target 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. Argus dropped their target price on shares of Cardinal Health from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, July 16th. Royal Bank of Canada set a $60.00 target price on shares of Cardinal Health and gave the stock a “hold” rating in a report on Friday, September 21st. Mizuho restated a “hold” rating and set a $53.00 target price on shares of Cardinal Health in a report on Sunday, August 12th. Finally, Morgan Stanley dropped their target price on shares of Cardinal Health from $55.00 to $40.00 and set an “underweight” rating on the stock in a report on Tuesday, July 3rd.

In other Cardinal Health news, CEO Jon L. Giacomin sold 2,890 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $51.95, for a total transaction of $150,135.50. Following the sale, the chief executive officer now directly owns 72,652 shares in the company, valued at approximately $3,774,271.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CAH. Dimensional Fund Advisors LP grew its stake in shares of Cardinal Health by 12.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,226,690 shares of the company’s stock worth $76,886,000 after acquiring an additional 132,474 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Cardinal Health during the 1st quarter worth approximately $395,000. The Manufacturers Life Insurance Company grew its stake in shares of Cardinal Health by 2.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 396,979 shares of the company’s stock worth $24,883,000 after acquiring an additional 7,650 shares in the last quarter. Ostrum Asset Management bought a new position in shares of Cardinal Health during the 1st quarter worth approximately $212,000. Finally, Natixis grew its stake in shares of Cardinal Health by 1,173.8% during the 1st quarter. Natixis now owns 80,476 shares of the company’s stock worth $5,044,000 after acquiring an additional 74,158 shares in the last quarter. 90.56% of the stock is owned by institutional investors.

Shares of NYSE:CAH traded up $0.97 during mid-day trading on Friday, reaching $54.39. The stock had a trading volume of 49,410 shares, compared to its average volume of 3,361,994. The company has a market capitalization of $16.05 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 1.69 and a beta of 1.02. 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 twelve month low of $48.14 and a twelve month high of $75.75.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Monday, August 6th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $35.35 billion for the quarter, compared to the consensus estimate of $34.38 billion. Cardinal Health had a net margin of 0.19% and a return on equity of 22.59%. Cardinal Health’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company posted $1.31 EPS. Equities research analysts expect that Cardinal Health will post 5.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were issued a dividend of $0.4763 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.91 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Friday, September 28th. Cardinal Health’s dividend payout ratio (DPR) is 38.20%.

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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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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