A number of other research analysts have also issued reports on CAH. UBS Group lifted their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a buy rating in a report on Monday, February 5th. Barclays started coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an overweight rating and a $117.00 target price on the stock. Wells Fargo & Company started coverage on Cardinal Health in a report on Thursday, December 14th. They set an underweight rating and a $96.00 target price on the stock. TheStreet lowered Cardinal Health from a b- rating to a c+ rating in a research report on Wednesday, December 27th. Finally, JPMorgan Chase & Co. increased their price target on Cardinal Health from $101.00 to $112.00 and gave the company a neutral rating in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $101.38.
Cardinal Health Stock Performance
Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $1.32 earnings per share. Analysts forecast that Cardinal Health will post 7.3 EPS for the current fiscal year.
Cardinal Health Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.5006 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. Cardinal Health’s dividend payout ratio is 78.74%.
In other news, CEO Deborah Weitzman sold 36,642 shares of Cardinal Health stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $106.31, for a total transaction of $3,895,411.02. Following the completion of the sale, the chief executive officer now directly owns 35,202 shares in the company, valued at approximately $3,742,324.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in CAH. Clearstead Trust LLC bought a new position in shares of Cardinal Health in the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC bought a new stake in shares of Cardinal Health during the third quarter valued at approximately $26,000. Covestor Ltd boosted its stake in Cardinal Health by 59.8% in the 2nd quarter. Covestor Ltd now owns 294 shares of the company’s stock valued at $28,000 after buying an additional 110 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in Cardinal Health in the 2nd quarter valued at $29,000. Finally, BKM Wealth Management LLC acquired a new stake in Cardinal Health in the 4th quarter valued at $30,000. 86.01% of the stock is owned by institutional investors.
Cardinal Health Company Profile
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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