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

StockNews.com downgraded shares of Cardinal Health (NYSE:CAHGet Rating) from a strong-buy rating to a buy rating in a report issued on Friday morning.

CAH has been the topic of a number of other research reports. TheStreet lowered Cardinal Health from a b rating to a c rating in a report on Thursday, February 3rd. Morgan Stanley raised Cardinal Health from an equal weight rating to an overweight rating and set a $74.00 price objective on the stock in a report on Tuesday, April 12th. Zacks Investment Research raised Cardinal Health from a sell rating to a hold rating and set a $55.00 price objective on the stock in a report on Monday, March 14th. Barclays lowered their price objective on Cardinal Health from $65.00 to $63.00 and set an overweight rating on the stock in a report on Tuesday, January 11th. Finally, Credit Suisse Group lowered their price objective on Cardinal Health from $60.00 to $58.00 and set a neutral rating on the stock in a report on Friday, February 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $58.10.

Shares of NYSE CAH traded up $0.40 during midday trading on Friday, reaching $58.27. 2,969,685 shares of the company were exchanged, compared to its average volume of 2,911,685. The company has a current ratio of 1.15, a quick ratio of 0.61 and a debt-to-equity ratio of 5.33. Cardinal Health has a 1 year low of $45.85 and a 1 year high of $64.53. The stock has a fifty day simple moving average of $57.97 and a 200 day simple moving average of $53.21. The stock has a market cap of $16.14 billion, a P/E ratio of 8.88, a PEG ratio of 2.80 and a beta of 0.82.

Cardinal Health (NYSE:CAHGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.07). Cardinal Health had a return on equity of 94.02% and a net margin of 0.32%. The company had revenue of $44.84 billion for the quarter, compared to analysts’ expectations of $43.20 billion. During the same period in the prior year, the business earned $1.53 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, analysts forecast that Cardinal Health will post 5.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Friday, April 1st were issued a $0.4908 dividend. This represents a $1.96 annualized dividend and a yield of 3.37%. The ex-dividend date was Thursday, March 31st. Cardinal Health’s dividend payout ratio (DPR) is 29.88%.

Several institutional investors and hedge funds have recently bought and sold shares of CAH. Blueshift Asset Management LLC boosted its stake in Cardinal Health by 264.8% in the 3rd quarter. Blueshift Asset Management LLC now owns 108,846 shares of the company’s stock worth $5,384,000 after buying an additional 79,010 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Cardinal Health by 51.1% in the 3rd quarter. Franklin Resources Inc. now owns 59,702 shares of the company’s stock worth $2,952,000 after purchasing an additional 20,188 shares during the period. First Quadrant L P CA raised its holdings in shares of Cardinal Health by 1.5% in the 4th quarter. First Quadrant L P CA now owns 37,180 shares of the company’s stock worth $1,914,000 after purchasing an additional 553 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Cardinal Health by 14.6% in the 3rd quarter. Mackenzie Financial Corp now owns 115,210 shares of the company’s stock worth $5,698,000 after purchasing an additional 14,678 shares during the period. Finally, Trexquant Investment LP raised its holdings in shares of Cardinal Health by 14.1% in the 3rd quarter. Trexquant Investment LP now owns 27,686 shares of the company’s stock worth $1,369,000 after purchasing an additional 3,429 shares during the period. 84.26% of the stock is currently owned by institutional investors and hedge funds.

About Cardinal Health (Get Rating)

Cardinal Health, Inc operates as an integrated 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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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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