Royal Bank of Canada set a $57.00 price objective on Cardinal Health (NYSE:CAH) in a research note published on Friday morning. The brokerage currently has a hold rating on the stock.
A number of other brokerages have also recently issued reports on CAH. Zacks Investment Research cut Cardinal Health from a hold rating to a sell rating in a research report on Tuesday, October 9th. Robert W. Baird reissued a hold rating and issued a $51.00 target price on shares of Cardinal Health in a research report on Friday, July 20th. Mizuho reissued a hold rating and issued a $53.00 target price on shares of Cardinal Health in a research report on Sunday, August 12th. Finally, Argus decreased their target price on Cardinal Health from $85.00 to $75.00 and set a buy rating for the company in a research report on Monday, July 16th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $61.08.
Shares of NYSE:CAH traded down $0.82 on Friday, hitting $55.31. 4,201,230 shares of the company’s stock were exchanged, compared to its average volume of 3,850,133. The stock has a market cap of $16.09 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.70 and a beta of 0.94. Cardinal Health has a 1-year low of $48.14 and a 1-year high of $75.75. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.53 and a current ratio of 1.07.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, November 8th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.21. The firm had revenue of $35.21 billion during the quarter, compared to analysts’ expectations of $33.66 billion. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. On average, equities research analysts predict that Cardinal Health will post 5.02 EPS for the current year.
Cardinal Health announced that its board has authorized a share repurchase program on Thursday, November 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be given a dividend of $0.4763 per share. The ex-dividend date is Monday, December 31st. This represents a $1.91 dividend on an annualized basis and a yield of 3.44%. Cardinal Health’s payout ratio is 38.20%.
In other Cardinal Health news, CEO Jon L. Giacomin sold 2,890 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $51.95, for a total transaction of $150,135.50. Following the completion of the sale, the chief executive officer now directly owns 72,652 shares of the company’s stock, valued at approximately $3,774,271.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. LFA Lugano Financial Advisors SA acquired a new stake in Cardinal Health during the 3rd quarter worth approximately $108,000. NEXT Financial Group Inc acquired a new stake in Cardinal Health during the 3rd quarter worth approximately $111,000. First Hawaiian Bank acquired a new stake in Cardinal Health during the 3rd quarter worth approximately $125,000. Sentry Investment Management LLC purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $132,000. Finally, Exane Asset Management purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $153,000. 90.64% of the stock is owned by institutional investors.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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