Cardinal Health Inc (CAH) Receives $60.82 Average Target Price from Brokerages

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Shares of Cardinal Health Inc (NYSE:CAH) have been assigned an average rating of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $60.50.

A number of analysts have issued reports on CAH shares. Royal Bank of Canada set a $57.00 price objective on Cardinal Health and gave the stock a “hold” rating in a research note on Friday, November 9th. Zacks Investment Research downgraded Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Morgan Stanley lifted their price objective on Cardinal Health from $40.00 to $50.00 and gave the stock an “underweight” rating in a research note on Monday, December 3rd. Mizuho reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Cardinal Health in a research note on Sunday, August 12th. Finally, ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Monday, November 12th.

In other news, SVP Stuart G. Laws sold 804 shares of Cardinal Health stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $55.55, for a total value of $44,662.20. Following the completion of the transaction, the senior vice president now owns 6,342 shares in the company, valued at approximately $352,298.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in CAH. Vanguard Group Inc. boosted its holdings in Cardinal Health by 22.0% during the 3rd quarter. Vanguard Group Inc. now owns 28,021,950 shares of the company’s stock valued at $1,513,186,000 after acquiring an additional 5,058,369 shares during the period. Renaissance Technologies LLC boosted its holdings in Cardinal Health by 611.5% during the 3rd quarter. Renaissance Technologies LLC now owns 2,535,800 shares of the company’s stock valued at $136,933,000 after acquiring an additional 2,179,400 shares during the period. Macquarie Group Ltd. boosted its holdings in Cardinal Health by 19.7% during the 2nd quarter. Macquarie Group Ltd. now owns 12,544,267 shares of the company’s stock valued at $612,537,000 after acquiring an additional 2,067,829 shares during the period. Millennium Management LLC boosted its holdings in Cardinal Health by 10,011.2% during the 2nd quarter. Millennium Management LLC now owns 2,019,314 shares of the company’s stock valued at $98,603,000 after acquiring an additional 1,999,343 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Cardinal Health by 52.2% during the 2nd quarter. American Century Companies Inc. now owns 4,461,439 shares of the company’s stock valued at $217,852,000 after acquiring an additional 1,530,702 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

CAH traded down $0.90 on Monday, hitting $53.91. 4,125,026 shares of the company’s stock traded hands, compared to its average volume of 3,967,985. The company has a market capitalization of $16.33 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. Cardinal Health has a one year low of $48.14 and a one year high of $75.75. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, November 8th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.21. Cardinal Health had a return on equity of 23.97% and a net margin of 0.53%. The business had revenue of $35.21 billion for the quarter, compared to the consensus estimate of $33.66 billion. During the same quarter in the previous year, the company posted $1.09 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Cardinal Health will post 5 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be issued a $0.4763 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, December 31st. Cardinal Health’s dividend payout ratio (DPR) is 38.20%.

Cardinal Health declared that its Board of Directors has approved a share buyback program on Thursday, November 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Cardinal Health Company Profile

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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