Investors Purchase Large Volume of Put Options on Cardinal Health (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) was the recipient of some unusual options trading on Friday. Stock traders acquired 6,884 put options on the stock. This is an increase of approximately 27% compared to the typical daily volume of 5,405 put options.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAH. Mizuho began coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. Wells Fargo & Company raised their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley increased their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $139.36.

Hedge Funds Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently modified their holdings of the business. Cyrus J. Lawrence LLC purchased a new stake in Cardinal Health during the fourth quarter worth $26,000. Promus Capital LLC bought a new stake in Cardinal Health during the fourth quarter valued at about $30,000. Bellwether Advisors LLC bought a new stake in Cardinal Health during the fourth quarter valued at about $32,000. Lee Danner & Bass Inc. bought a new position in Cardinal Health in the fourth quarter worth about $35,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Cardinal Health during the fourth quarter valued at about $36,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Down 0.2 %

CAH opened at $136.43 on Friday. The stock’s fifty day moving average is $128.36 and its two-hundred day moving average is $120.76. The company has a market capitalization of $32.96 billion, a P/E ratio of 25.45, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $137.18.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Equities analysts anticipate that Cardinal Health will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. Cardinal Health’s payout ratio is presently 37.69%.

About Cardinal Health

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.