Cardinal Health, Inc. (NYSE:CAH – Get Free Report) traded down 4.4% on Wednesday . The company traded as low as $110.50 and last traded at $110.55. 2,056,778 shares traded hands during trading, a decline of 13% from the average session volume of 2,359,829 shares. The stock had previously closed at $115.62.
Analyst Ratings Changes
Several research analysts have recently commented on CAH shares. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $101.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, November 17th. SVB Leerink started coverage on Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.07.
Cardinal Health Price Performance
The company has a market capitalization of $27.02 billion, a P/E ratio of 43.73, a PEG ratio of 1.11 and a beta of 0.68. The company has a 50 day moving average of $107.04 and a 200-day moving average of $100.15.
Cardinal Health (NYSE:CAH – Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.26. The business had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 EPS. Research analysts predict that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.
Cardinal Health Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given 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 yield of 1.80%. Cardinal Health’s payout ratio is 78.74%.
Institutional Trading of Cardinal Health
Several large investors have recently bought and sold shares of CAH. Norges Bank bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $220,230,000. Moneta Group Investment Advisors LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $215,893,000. Ameriprise Financial Inc. boosted its position in shares of Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after purchasing an additional 1,862,291 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Cardinal Health by 1,232.2% in the 2nd quarter. Marshall Wace LLP now owns 1,365,374 shares of the company’s stock worth $129,123,000 after purchasing an additional 1,262,881 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its position in shares of Cardinal Health by 677.5% in the 1st quarter. Nomura Holdings Inc. now owns 1,350,804 shares of the company’s stock worth $101,986,000 after purchasing an additional 1,177,066 shares in the last quarter. 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.