Cardinal Health (NYSE:CAH) Stock Price Down 1.9%

Shares of Cardinal Health, Inc. (NYSE:CAHGet Free Report) dropped 1.9% during mid-day trading on Monday . The company traded as low as $102.39 and last traded at $102.93. Approximately 487,574 shares changed hands during trading, a decline of 78% from the average daily volume of 2,239,420 shares. The stock had previously closed at $104.95.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of Cardinal Health in a research report on Thursday, December 14th. They issued an “underweight” rating and a $96.00 target price for the company. Barclays began coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $101.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, November 17th. Finally, TheStreet cut shares of Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.38.

Check Out Our Latest Stock Analysis on Cardinal Health

Cardinal Health Stock Performance

The stock has a market capitalization of $25.12 billion, a P/E ratio of 40.90, a price-to-earnings-growth ratio of 0.94 and a beta of 0.69. The firm’s fifty day simple moving average is $104.38 and its 200 day simple moving average is $97.19.

Cardinal Health (NYSE:CAHGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. The company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 EPS. Analysts anticipate that Cardinal Health, Inc. will post 7.29 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

Insider Activity at Cardinal Health

In other Cardinal Health news, CEO Deborah Weitzman sold 36,642 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $106.31, for a total transaction of $3,895,411.02. Following the sale, the chief executive officer now directly owns 35,202 shares of the company’s stock, valued at approximately $3,742,324.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors have recently added to or reduced their stakes in the business. Clearstead Trust LLC acquired a new position in shares of Cardinal Health during the 4th quarter valued at $25,000. Covestor Ltd lifted its position in shares of Cardinal Health by 59.8% during the 2nd quarter. Covestor Ltd now owns 294 shares of the company’s stock valued at $28,000 after acquiring an additional 110 shares during the period. Cornerstone Planning Group LLC acquired a new position in shares of Cardinal Health during the 3rd quarter valued at $26,000. BKM Wealth Management LLC acquired a new position in shares of Cardinal Health during the 4th quarter valued at $30,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of Cardinal Health during the 2nd quarter valued at $29,000. 86.01% of the stock is owned by institutional investors.

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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