Cardinal Health, Inc. (NYSE:CAH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cardinal Health, Inc. (NYSE:CAH) have received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $119.36.

A number of research firms have commented on CAH. Citigroup dropped their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. UBS Group boosted their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Argus increased their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI lifted their target price on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley upped their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th.

Cardinal Health Trading Down 1.2 %

CAH opened at $112.51 on Monday. The firm has a market cap of $27.40 billion, a price-to-earnings ratio of 50.00, a PEG ratio of 1.57 and a beta of 0.60. The stock’s 50-day moving average price is $109.72 and its 200 day moving average price is $103.89. Cardinal Health has a 12-month low of $90.19 and a 12-month high of $116.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts forecast that Cardinal Health will post 7.61 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.80%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 89.78%.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their position. 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. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds have recently added to or reduced their stakes in CAH. Wedge Capital Management L L P NC acquired a new stake in shares of Cardinal Health in the third quarter valued at approximately $30,820,000. ORG Wealth Partners LLC acquired a new position in shares of Cardinal Health during the 3rd quarter worth approximately $489,000. Paladin Wealth LLC purchased a new stake in Cardinal Health in the 3rd quarter valued at approximately $167,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Cardinal Health by 46.4% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 675 shares of the company’s stock valued at $75,000 after buying an additional 214 shares during the last quarter. Finally, Orca Investment Management LLC increased its position in Cardinal Health by 6.2% during the third quarter. Orca Investment Management LLC now owns 30,254 shares of the company’s stock worth $3,344,000 after buying an additional 1,762 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other 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.