Cardinal Health Inc (NYSE:CAH) has been given a consensus rating of “Hold” by the twelve research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $55.89.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Wolfe Research assumed coverage on shares of Cardinal Health in a research report on Tuesday, April 2nd. They set an “underperform” rating on the stock. Guggenheim initiated coverage on shares of Cardinal Health in a research report on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price target on the stock. ValuEngine upgraded shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Finally, UBS Group initiated coverage on shares of Cardinal Health in a report on Thursday, January 17th. They issued a “neutral” rating and a $51.00 target price on the stock.
Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Cardinal Health by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 8,119,896 shares of the company’s stock worth $362,149,000 after purchasing an additional 290,620 shares during the last quarter. First PREMIER Bank grew its holdings in shares of Cardinal Health by 6.7% in the fourth quarter. First PREMIER Bank now owns 6,570 shares of the company’s stock worth $293,000 after purchasing an additional 410 shares during the last quarter. Corient Capital Partners LLC bought a new position in shares of Cardinal Health in the fourth quarter worth approximately $1,897,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Cardinal Health in the fourth quarter worth approximately $1,570,000. Finally, Conning Inc. grew its holdings in shares of Cardinal Health by 4.0% in the first quarter. Conning Inc. now owns 493,352 shares of the company’s stock worth $23,755,000 after purchasing an additional 18,770 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, May 9th. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.16. Cardinal Health had a negative net margin of 0.03% and a positive return on equity of 24.01%. The company had revenue of $35.23 billion for the quarter, compared to analysts’ expectations of $35.09 billion. During the same period in the prior year, the business earned $1.39 earnings per share. Cardinal Health’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Cardinal Health will post 5.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.4811 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.84%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio is presently 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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