Cardinal Health, Inc. (NYSE:CAH – Get Free Report) declared a quarterly dividend on Tuesday, February 6th, RTT News reports. Shareholders of record on Monday, April 1st will be paid a dividend of 0.5006 per share on Monday, April 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.92%.
Cardinal Health has raised its dividend payment by an average of 1.0% per year over the last three years and has raised its dividend every year for the last 27 years. Cardinal Health has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cardinal Health to earn $7.83 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 25.5%.
Cardinal Health Price Performance
Cardinal Health stock traded up $0.44 during mid-day trading on Tuesday, reaching $104.07. The company had a trading volume of 2,190,141 shares, compared to its average volume of 2,296,167. Cardinal Health has a 1 year low of $68.53 and a 1 year high of $111.40. The company has a market capitalization of $25.31 billion, a P/E ratio of 40.80, a P/E/G ratio of 0.92 and a beta of 0.69. The stock’s 50-day simple moving average is $104.55 and its 200-day simple moving average is $96.87.
Insider Transactions at Cardinal Health
In other news, CEO Deborah Weitzman sold 36,642 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $106.31, for a total value of $3,895,411.02. Following the transaction, the chief executive officer now directly owns 35,202 shares in the company, valued at approximately $3,742,324.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.
Institutional Investors Weigh In On Cardinal Health
A number of large investors have recently modified their holdings of the stock. Bleakley Financial Group LLC grew its stake in shares of Cardinal Health by 4.0% in the first quarter. Bleakley Financial Group LLC now owns 4,172 shares of the company’s stock valued at $315,000 after buying an additional 159 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Cardinal Health by 1.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 19,610 shares of the company’s stock valued at $1,855,000 after buying an additional 196 shares in the last quarter. KB Financial Partners LLC grew its stake in shares of Cardinal Health by 2.5% in the first quarter. KB Financial Partners LLC now owns 8,267 shares of the company’s stock valued at $469,000 after buying an additional 199 shares in the last quarter. Meeder Advisory Services Inc. grew its stake in shares of Cardinal Health by 6.0% in the first quarter. Meeder Advisory Services Inc. now owns 3,802 shares of the company’s stock valued at $287,000 after buying an additional 215 shares in the last quarter. Finally, Gladius Capital Management LP grew its stake in shares of Cardinal Health by 6.6% in the third quarter. Gladius Capital Management LP now owns 3,855 shares of the company’s stock valued at $335,000 after buying an additional 239 shares in the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CAH. TheStreet cut shares of Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Barclays began coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of Cardinal Health in a research note on Thursday, December 14th. They set an “underweight” rating and a $96.00 price objective for the company. Evercore ISI decreased their target price on shares of Cardinal Health from $100.00 to $95.00 in a research report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $101.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Hold” and a consensus price target of $101.38.
Cardinal Health Company Profile
Cardinal Health, Inc operates as a 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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