Cardinal Health (CAH) Receives Average Recommendation of “Hold” from Analysts

Cardinal Health (NYSE:CAH) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $70.35.

CAH has been the topic of a number of research reports. Mizuho set a $73.00 price target on Cardinal Health and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Zacks Investment Research raised Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Monday, January 29th. ValuEngine downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Jefferies Group set a $72.00 price target on Cardinal Health and gave the stock a “hold” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada set a $83.00 price target on Cardinal Health and gave the stock a “hold” rating in a research note on Thursday, February 8th.

Shares of Cardinal Health traded up $0.18, reaching $53.31, during midday trading on Thursday, MarketBeat Ratings reports. The company’s stock had a trading volume of 47,396 shares, compared to its average volume of 4,021,833. Cardinal Health has a fifty-two week low of $50.79 and a fifty-two week high of $80.37. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.10 and a quick ratio of 0.54. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 1.34 and a beta of 1.06.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, July 15th. Stockholders of record on Monday, July 2nd will be paid a $0.476 dividend. The ex-dividend date is Friday, June 29th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 3.57%. Cardinal Health’s dividend payout ratio is 34.26%.

Cardinal Health announced that its Board of Directors has approved a stock repurchase program on Thursday, February 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cardinal Health by 14.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,515 shares of the company’s stock worth $399,000 after purchasing an additional 798 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Cardinal Health by 8.4% in the first quarter. Global X Management Co. LLC now owns 11,087 shares of the company’s stock worth $695,000 after purchasing an additional 857 shares during the last quarter. Capital Investment Advisors LLC raised its stake in shares of Cardinal Health by 9.8% in the fourth quarter. Capital Investment Advisors LLC now owns 9,781 shares of the company’s stock worth $599,000 after purchasing an additional 872 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cardinal Health by 1.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,669 shares of the company’s stock worth $4,367,000 after purchasing an additional 947 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Cardinal Health by 19.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,941 shares of the company’s stock valued at $364,000 after acquiring an additional 969 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other 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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