Cardinal Health, Inc. (NYSE:CAH) Given Average Rating of “Hold” by Brokerages

Shares of Cardinal Health, Inc. (NYSE:CAH) have been assigned a consensus recommendation of “Hold” from the twenty brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $80.66.

Several research analysts have recently commented on the stock. Credit Suisse Group dropped their price target on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. BidaskClub lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. UBS AG reiterated a “neutral” rating and issued a $76.00 target price (down from $79.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Cowen and Company reiterated a “market perform” rating and issued a $77.00 target price (down from $82.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Monday.

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Shares of Cardinal Health (NYSE CAH) opened at 67.31 on Friday. The stock’s 50 day moving average is $76.01 and its 200 day moving average is $76.91. The stock has a market capitalization of $21.27 billion, a PE ratio of 16.70 and a beta of 0.80. Cardinal Health has a 52 week low of $62.70 and a 52 week high of $84.88.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter in the prior year, the business posted $1.14 EPS. Cardinal Health’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts anticipate that Cardinal Health will post $4.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be issued a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 45.79%.

Institutional investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC increased its position in Cardinal Health by 28.9% in the first quarter. River Road Asset Management LLC now owns 885,861 shares of the company’s stock worth $72,242,000 after buying an additional 198,554 shares during the last quarter. Bank of Montreal Can increased its position in Cardinal Health by 6.2% in the first quarter. Bank of Montreal Can now owns 609,732 shares of the company’s stock worth $49,725,000 after buying an additional 35,436 shares during the last quarter. CWM LLC increased its position in Cardinal Health by 15.6% in the first quarter. CWM LLC now owns 331,531 shares of the company’s stock worth $27,036,000 after buying an additional 44,689 shares during the last quarter. Morgan Stanley increased its position in Cardinal Health by 24.6% in the first quarter. Morgan Stanley now owns 2,035,339 shares of the company’s stock worth $165,981,000 after buying an additional 402,151 shares during the last quarter. Finally, Iowa State Bank increased its position in Cardinal Health by 3.4% in the first quarter. Iowa State Bank now owns 20,569 shares of the company’s stock worth $1,677,000 after buying an additional 675 shares during the last quarter. 87.09% of the stock is owned by institutional investors.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

Analyst Recommendations for Cardinal Health (NYSE:CAH)

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