Cardinal Health (CAH) PT Lowered to $40.00

Cardinal Health (NYSE:CAH) had its price objective decreased by Morgan Stanley from $55.00 to $40.00 in a research note published on Tuesday morning. Morgan Stanley currently has an underweight rating on the stock.

A number of other research firms have also recently commented on CAH. TheStreet upgraded Cardinal Health from a c+ rating to a b- rating in a research note on Tuesday, March 13th. Barclays began coverage on Cardinal Health in a research note on Thursday, March 8th. They set an equal weight rating and a $74.00 target price on the stock. Zacks Investment Research cut Cardinal Health from a buy rating to a hold rating in a research note on Wednesday, March 7th. ValuEngine cut Cardinal Health from a hold rating to a sell rating in a research note on Wednesday, May 2nd. Finally, Argus upgraded Cardinal Health from a hold rating to a buy rating and set a $85.00 target price on the stock in a research note on Monday, April 2nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $67.80.

Shares of Cardinal Health opened at $49.50 on Tuesday, Marketbeat reports. The company has a current ratio of 1.10, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Cardinal Health has a 1-year low of $48.28 and a 1-year high of $78.89. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 1.42 and a beta of 1.01.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 3rd. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.12). Cardinal Health had a net margin of 1.26% and a return on equity of 23.39%. The company had revenue of $33.63 billion for the quarter, compared to the consensus estimate of $33.61 billion. sell-side analysts forecast that Cardinal Health will post 4.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 15th. Investors of record on Monday, July 2nd will be issued a $0.476 dividend. The ex-dividend date is Friday, June 29th. This represents a $1.90 annualized dividend and a yield of 3.85%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.46. Cardinal Health’s dividend payout ratio (DPR) is 35.37%.

A number of institutional investors and hedge funds have recently made changes to their positions in CAH. Global X Management Co. LLC grew its holdings in Cardinal Health by 8.4% during the 1st quarter. Global X Management Co. LLC now owns 11,087 shares of the company’s stock valued at $695,000 after buying an additional 857 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cardinal Health by 1.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,669 shares of the company’s stock valued at $4,367,000 after buying an additional 947 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in Cardinal Health by 10.9% during the 1st quarter. IFM Investors Pty Ltd now owns 10,033 shares of the company’s stock valued at $629,000 after buying an additional 987 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Cardinal Health by 2.9% during the 1st quarter. LS Investment Advisors LLC now owns 37,022 shares of the company’s stock valued at $2,321,000 after buying an additional 1,033 shares in the last quarter. Finally, Cambridge Financial Group Inc. grew its holdings in Cardinal Health by 1.2% during the 1st quarter. Cambridge Financial Group Inc. now owns 88,070 shares of the company’s stock valued at $5,520,000 after buying an additional 1,049 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company worldwide. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare, and consumer products to retailers, hospitals, and other healthcare providers.

Analyst Recommendations for Cardinal Health (NYSE:CAH)

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