Zacks Investment Research upgraded shares of Cardinal Health, Inc. (NYSE:CAH) from a sell rating to a hold rating in a research report report published on Wednesday morning.
According to Zacks, “Over the last year, Cardinal Health has underperformed the broader industry with respect to price. Increasing generic pricing pressure is a major headwind. Intensifying competition and customer concentration are other bottlenecks. A sluggish macroeconomic scenario and tough product pricing environment are likely to impede growth. Meanwhile, the company is banking on strategic buyouts, joint ventures and supply agreements to drive growth. A solid fiscal 2018 guidance instills our confidence in the stock. Also, Cardinal Health ended first-quarter on a solid note, courtesy of an encouraging performance at the Medical segment. Although, the Pharmaceutical segment witnessed strong growth in the Specialty business and gained a huge number of Pharmaceutical Distribution customers, profits at the segment were hurt by generic pharmaceutical pricing and the loss of a major Pharmaceutical Distribution customer.”
Other research analysts have also recently issued research reports about the company. UBS AG restated a neutral rating and issued a $76.00 price target (down previously from $79.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Needham & Company LLC restated a hold rating on shares of Cardinal Health in a research report on Sunday, September 10th. Jefferies Group LLC decreased their price target on Cardinal Health from $77.00 to $67.00 and set a hold rating on the stock in a research report on Tuesday. Cowen and Company reiterated a market perform rating and issued a $77.00 target price (down previously from $82.00) on shares of Cardinal Health in a research report on Thursday, August 3rd. Finally, Robert W. Baird reiterated a hold rating and issued a $73.00 target price on shares of Cardinal Health in a research report on Sunday, September 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $74.81.
Cardinal Health (NYSE CAH) opened at $58.55 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.80. Cardinal Health has a 12-month low of $57.54 and a 12-month high of $84.88. The company has a market capitalization of $19,052.39, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.75 and a beta of 0.88.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Monday, November 6th. The company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.09. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The company had revenue of $32.64 billion for the quarter, compared to analysts’ expectations of $33.48 billion. During the same quarter last year, the business earned $1.24 earnings per share. Cardinal Health’s revenue was up 1.9% on a year-over-year basis. analysts expect that Cardinal Health will post 4.97 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Cardinal Health, Inc. (CAH) Lifted to “Hold” at Zacks Investment Research” was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://stocknewstimes.com/2017/11/11/cardinal-health-inc-cah-lifted-to-hold-at-zacks-investment-research.html.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, December 29th. Cardinal Health’s dividend payout ratio (DPR) is currently 53.78%.
Several institutional investors have recently bought and sold shares of the stock. Alpha Windward LLC lifted its stake in shares of Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock worth $179,000 after acquiring an additional 17 shares during the period. Security National Bank of Sioux City Iowa IA lifted its stake in shares of Cardinal Health by 0.3% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,255 shares of the company’s stock worth $1,033,000 after acquiring an additional 40 shares during the period. Wetherby Asset Management Inc. lifted its stake in shares of Cardinal Health by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 8,392 shares of the company’s stock worth $654,000 after acquiring an additional 44 shares during the period. Bessemer Group Inc. lifted its stake in shares of Cardinal Health by 1.2% in the second quarter. Bessemer Group Inc. now owns 4,238 shares of the company’s stock worth $330,000 after acquiring an additional 51 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Cardinal Health by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,468 shares of the company’s stock worth $1,829,000 after acquiring an additional 68 shares during the period. 87.26% of the stock is currently owned by institutional investors.
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cardinal Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health Inc. and related companies with MarketBeat.com's FREE daily email newsletter.