Cardinal Health (NYSE:CAH) has been given a $57.00 price target by stock analysts at Royal Bank of Canada in a note issued to investors on Friday. The brokerage presently has a “hold” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 3.11% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Robert W. Baird decreased their target price on Cardinal Health from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, August 7th. Argus decreased their target price on Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, July 16th. Mizuho reaffirmed a “hold” rating and issued a $53.00 target price on shares of Cardinal Health in a research report on Sunday, August 12th. Finally, Zacks Investment Research downgraded Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $61.08.
CAH stock traded down $0.85 during trading on Friday, reaching $55.28. 62,692 shares of the stock traded hands, compared to its average volume of 3,880,410. Cardinal Health has a 52-week low of $48.14 and a 52-week high of $75.75. The company has a current ratio of 1.07, a quick ratio of 0.53 and a debt-to-equity ratio of 1.32. The company has a market cap of $15.75 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.66 and a beta of 0.94.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, November 8th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.21. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The firm had revenue of $35.21 billion during the quarter, compared to the consensus estimate of $33.66 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that Cardinal Health will post 5.02 EPS for the current fiscal year.
Cardinal Health declared that its Board of Directors has approved a share repurchase plan on Thursday, November 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
In related news, CEO Jon L. Giacomin sold 2,890 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $51.95, for a total value of $150,135.50. Following the completion of the transaction, the chief executive officer now owns 72,652 shares of the company’s stock, valued at $3,774,271.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fosun International Ltd boosted its holdings in Cardinal Health by 31.7% in the third quarter. Fosun International Ltd now owns 82,265 shares of the company’s stock valued at $4,443,000 after purchasing an additional 19,810 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Cardinal Health by 9.6% in the third quarter. PNC Financial Services Group Inc. now owns 133,177 shares of the company’s stock valued at $7,191,000 after purchasing an additional 11,659 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Cardinal Health by 23.9% in the third quarter. Bank of New York Mellon Corp now owns 7,829,276 shares of the company’s stock valued at $422,781,000 after purchasing an additional 1,512,329 shares during the last quarter. Janus Henderson Group PLC raised its stake in Cardinal Health by 5.8% during the third quarter. Janus Henderson Group PLC now owns 88,319 shares of the company’s stock valued at $4,768,000 after buying an additional 4,822 shares in the last quarter. Finally, Global Endowment Management LP raised its stake in Cardinal Health by 4.7% during the third quarter. Global Endowment Management LP now owns 122,600 shares of the company’s stock valued at $6,620,000 after buying an additional 5,500 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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