Cardinal Health (NYSE:CAH) Trading Down 5.8%

Cardinal Health Inc (NYSE:CAH) was down 5.8% during trading on Tuesday . The stock traded as low as $42.05 and last traded at $42.92, approximately 5,463,685 shares were traded during trading. An increase of 81% from the average daily volume of 3,020,314 shares. The stock had previously closed at $45.55.

Several equities research analysts have recently commented on CAH shares. Guggenheim started coverage on shares of Cardinal Health in a research report on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price target for the company. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Zacks Investment Research lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $54.11.

The company’s 50 day moving average is $46.10. The company has a market cap of $13.54 billion, a P/E ratio of 8.58, a P/E/G ratio of 1.45 and a beta of 1.28. The company has a quick ratio of 0.54, a current ratio of 1.07 and a debt-to-equity ratio of 1.22.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 9th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.16. The company had revenue of $35.23 billion for the quarter, compared to the consensus estimate of $35.09 billion. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 earnings per share. Sell-side analysts expect that Cardinal Health Inc will post 5.11 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were paid a dividend of $0.4811 per share. The ex-dividend date of this dividend was Friday, June 28th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.48%. Cardinal Health’s payout ratio is 38.40%.

Several large investors have recently made changes to their positions in CAH. Geode Capital Management LLC boosted its stake in Cardinal Health by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 4,155,931 shares of the company’s stock worth $185,121,000 after purchasing an additional 213,970 shares during the period. Northern Trust Corp boosted its stake in Cardinal Health by 5.3% in the 1st quarter. Northern Trust Corp now owns 4,029,570 shares of the company’s stock worth $194,024,000 after purchasing an additional 203,897 shares during the period. Pzena Investment Management LLC boosted its stake in Cardinal Health by 20.5% in the 2nd quarter. Pzena Investment Management LLC now owns 3,644,698 shares of the company’s stock worth $171,665,000 after purchasing an additional 621,135 shares during the period. LSV Asset Management boosted its stake in Cardinal Health by 2.3% in the 1st quarter. LSV Asset Management now owns 2,822,344 shares of the company’s stock worth $135,895,000 after purchasing an additional 64,500 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Cardinal Health by 41.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,447,058 shares of the company’s stock worth $109,144,000 after purchasing an additional 720,871 shares during the period. Institutional investors own 89.23% of the company’s stock.

About Cardinal Health (NYSE:CAH)

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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