Cardinal Health (NYSE:CAH) Hits New 12-Month High After Dividend Announcement

Cardinal Health, Inc. (NYSE:CAH - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The stock traded as high as $152.98 and last traded at $151.48, with a volume of 395105 shares trading hands. The stock had previously closed at $149.53.

The newly announced dividend which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is currently 31.51%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird raised their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and boosted their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. TD Cowen raised shares of Cardinal Health from a "hold" rating to a "buy" rating and lifted their price target for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Argus set a $148.00 price target on shares of Cardinal Health in a report on Tuesday, February 4th. Finally, Mizuho increased their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $146.43.

Cardinal Health Trading Up 1.3 %

The firm has a market capitalization of $36.68 billion, a PE ratio of 28.67, a PEG ratio of 1.49 and a beta of 0.66. The business's 50 day simple moving average is $133.84 and its 200 day simple moving average is $125.81.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. During the same period in the previous year, the company earned $2.08 EPS. The firm's quarterly revenue was up .0% on a year-over-year basis. Analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Institutional Trading of Cardinal Health

A number of institutional investors have recently bought and sold shares of CAH. Cyrus J. Lawrence LLC acquired a new position in Cardinal Health in the fourth quarter valued at approximately $26,000. Tompkins Financial Corp lifted its stake in Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after acquiring an additional 128 shares in the last quarter. Promus Capital LLC purchased a new stake in Cardinal Health during the 4th quarter worth about $30,000. Bellwether Advisors LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at about $32,000. Finally, GW&K Investment Management LLC boosted its stake in Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock valued at $37,000 after acquiring an additional 144 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.