Cardinal Health, Inc. (CAH) to Distribute Quarterly Dividend of $0.50 on April 15th

Cardinal Health, Inc. (NYSE:CAHGet Free Report) announced a quarterly dividend on Tuesday, February 6th, RTT News reports. Investors of record on Monday, April 1st will be paid a dividend of 0.5006 per share on Monday, April 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.89%.

Cardinal Health has raised its dividend payment by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 27 consecutive years. Cardinal Health has a payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $7.84 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 25.5%.

Cardinal Health Price Performance

Shares of CAH opened at $105.67 on Thursday. Cardinal Health has a 1-year low of $68.53 and a 1-year high of $111.40. The company has a 50-day moving average of $104.52 and a 200 day moving average of $97.01. The firm has a market capitalization of $25.70 billion, a price-to-earnings ratio of 41.60, a PEG ratio of 0.93 and a beta of 0.69.

Cardinal Health (NYSE:CAHGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. During the same quarter last year, the business posted $1.32 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Cardinal Health will post 7.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Deborah Weitzman sold 36,642 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $106.31, for a total transaction of $3,895,411.02. Following the completion of the transaction, the chief executive officer now owns 35,202 shares in the company, valued at approximately $3,742,324.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Cardinal Health

Large investors have recently bought and sold shares of the stock. Bleakley Financial Group LLC boosted its holdings in shares of Cardinal Health by 4.0% in the 1st quarter. Bleakley Financial Group LLC now owns 4,172 shares of the company’s stock valued at $315,000 after acquiring an additional 159 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Cardinal Health by 1.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 19,610 shares of the company’s stock valued at $1,855,000 after acquiring an additional 196 shares during the last quarter. KB Financial Partners LLC boosted its holdings in shares of Cardinal Health by 2.5% in the 1st quarter. KB Financial Partners LLC now owns 8,267 shares of the company’s stock valued at $469,000 after acquiring an additional 199 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Cardinal Health by 6.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 3,802 shares of the company’s stock valued at $287,000 after acquiring an additional 215 shares during the last quarter. Finally, Gladius Capital Management LP boosted its holdings in shares of Cardinal Health by 6.6% in the 3rd quarter. Gladius Capital Management LP now owns 3,855 shares of the company’s stock valued at $335,000 after acquiring an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Wells Fargo & Company began coverage on shares of Cardinal Health in a report on Thursday, December 14th. They issued an “underweight” rating and a $96.00 price target for the company. UBS Group boosted their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Cardinal Health from $101.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, November 17th. Finally, Barclays began coverage on shares of Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $101.38.

Get Our Latest Analysis on CAH

Cardinal Health Company Profile

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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.

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Dividend History for Cardinal Health (NYSE:CAH)

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