Cardinal Health, Inc. (CAH) Lifted to “Hold” at Zacks Investment Research

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.

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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.

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