Cardinal Health, Inc. (NYSE:CAH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cardinal Health, Inc. (NYSE:CAH) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $118.45.

A number of equities research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Evercore ISI boosted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. UBS Group lifted their price objective on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th.

Cardinal Health Stock Down 0.9 %

CAH opened at $109.44 on Friday. Cardinal Health has a twelve month low of $85.44 and a twelve month high of $116.04. The company has a fifty day moving average of $100.39 and a 200-day moving average of $103.37. The stock has a market cap of $26.66 billion, a PE ratio of 48.64, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same period last year, the company posted $1.55 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts anticipate that Cardinal Health will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is presently 89.78%.

Insider Activity at Cardinal Health

In other news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Cardinal Health

Large investors have recently made changes to their positions in the stock. Clearstead Trust LLC bought a new stake in Cardinal Health during the 4th quarter worth approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the second quarter worth $27,000. Raleigh Capital Management Inc. raised its position in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Cardinal Health during the first quarter valued at $32,000. Finally, LRI Investments LLC purchased a new position in Cardinal Health during the first quarter worth about $32,000. 87.17% 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.