Cardinal Health (NYSE:CAH) Downgraded by StockNews.com

StockNews.com lowered shares of Cardinal Health (NYSE:CAH) from a strong-buy rating to a buy rating in a report published on Wednesday.

CAH has been the topic of several other research reports. UBS Group lifted their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a buy rating in a report on Monday, February 5th. Barclays started coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They issued an overweight rating and a $117.00 price target on the stock. TheStreet cut shares of Cardinal Health from a b- rating to a c+ rating in a report on Wednesday, December 27th. SVB Leerink started coverage on shares of Cardinal Health in a research note on Monday, February 26th. They issued an outperform rating and a $125.00 target price for the company. Finally, Argus raised Cardinal Health from a hold rating to a buy rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of Moderate Buy and an average target price of $103.07.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $103.20 on Wednesday. Cardinal Health has a 52-week low of $77.56 and a 52-week high of $116.04. The stock has a market cap of $25.10 billion, a P/E ratio of 40.63, a P/E/G ratio of 1.00 and a beta of 0.68. The firm has a 50 day moving average price of $109.51 and a 200 day moving average price of $104.67.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS. Analysts predict that Cardinal Health will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Cardinal Health’s dividend payout ratio is 78.74%.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors and hedge funds have recently made changes to their positions in CAH. Flagship Harbor Advisors LLC lifted its stake in Cardinal Health by 8.9% in the third quarter. Flagship Harbor Advisors LLC now owns 5,566 shares of the company’s stock valued at $483,000 after acquiring an additional 453 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Cardinal Health during the third quarter worth about $126,000. Measured Wealth Private Client Group LLC increased its position in Cardinal Health by 6.6% during the third quarter. Measured Wealth Private Client Group LLC now owns 7,606 shares of the company’s stock worth $660,000 after buying an additional 472 shares during the last quarter. Czech National Bank raised its stake in Cardinal Health by 47.6% in the third quarter. Czech National Bank now owns 44,499 shares of the company’s stock valued at $3,863,000 after buying an additional 14,359 shares during the period. Finally, MBM Wealth Consultants LLC lifted its position in shares of Cardinal Health by 3.7% in the third quarter. MBM Wealth Consultants LLC now owns 3,238 shares of the company’s stock valued at $302,000 after buying an additional 115 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

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.