Shares of Cardinal Health, Inc. (NYSE:CAH - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $108.19, but opened at $103.85. Cardinal Health shares last traded at $101.78, with a volume of 2,369,935 shares changing hands.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. SVB Leerink assumed coverage on Cardinal Health in a report on Monday, February 26th. They issued an "outperform" rating and a $125.00 target price on the stock. Leerink Partnrs reiterated an "outperform" rating on shares of Cardinal Health in a report on Monday, February 26th. UBS Group upped their target price on Cardinal Health from $122.00 to $125.00 and gave the company a "buy" rating in a report on Monday, February 5th. Argus upgraded Cardinal Health from a "hold" rating to a "buy" rating in a report on Friday, February 9th. Finally, TheStreet cut Cardinal Health from a "b-" rating to a "c+" rating in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $103.07.
Check Out Our Latest Stock Report on CAH
Cardinal Health Stock Down 5.0 %
The business has a 50-day moving average price of $109.58 and a two-hundred day moving average price of $104.50. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 40.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68.
Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. Cardinal Health's revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.
Cardinal Health Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Thursday, March 28th. Cardinal Health's payout ratio is 78.74%.
Hedge Funds Weigh In On Cardinal Health
A number of institutional investors have recently modified their holdings of the company. Cornerstone Wealth Management LLC bought a new stake in Cardinal Health during the fourth quarter worth $209,000. Nordea Investment Management AB grew its holdings in Cardinal Health by 50.5% during the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company's stock worth $18,649,000 after buying an additional 61,933 shares in the last quarter. Vest Financial LLC grew its holdings in Cardinal Health by 15.9% during the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company's stock worth $28,470,000 after buying an additional 38,769 shares in the last quarter. Bellwether Advisors LLC bought a new stake in Cardinal Health during the fourth quarter worth $6,290,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Cardinal Health by 30.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company's stock worth $54,618,000 after buying an additional 126,668 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.
Cardinal Health Company Profile
(
Get Free Report)
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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