Traders Buy Shares of Cardinal Health (CAH) on Weakness

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Traders purchased shares of Cardinal Health Inc (NYSE:CAH) on weakness during trading hours on Monday. $80.78 million flowed into the stock on the tick-up and $23.39 million flowed out of the stock on the tick-down, for a money net flow of $57.39 million into the stock. Of all equities tracked, Cardinal Health had the 11th highest net in-flow for the day. Cardinal Health traded down ($0.30) for the day and closed at $49.97

CAH has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. ValuEngine cut Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. UBS Group initiated coverage on Cardinal Health in a report on Thursday, January 17th. They set a “neutral” rating and a $51.00 price target for the company. Finally, Morgan Stanley increased their price target on Cardinal Health from $40.00 to $50.00 and gave the stock an “underweight” rating in a report on Monday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Cardinal Health currently has a consensus rating of “Hold” and a consensus price target of $57.90.

The company has a quick ratio of 0.51, a current ratio of 1.05 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 1.57 and a beta of 1.17.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 7th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.20. Cardinal Health had a positive return on equity of 24.01% and a negative net margin of 0.03%. The business had revenue of $37.70 billion for the quarter, compared to analyst estimates of $36.09 billion. During the same quarter last year, the company earned $1.31 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts anticipate that Cardinal Health Inc will post 5.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be given a dividend of $0.4763 per share. This represents a $1.91 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, March 29th. Cardinal Health’s dividend payout ratio (DPR) is presently 38.20%.

A number of large investors have recently added to or reduced their stakes in CAH. Gemmer Asset Management LLC boosted its position in shares of Cardinal Health by 172.4% in the fourth quarter. Gemmer Asset Management LLC now owns 553 shares of the company’s stock worth $25,000 after buying an additional 350 shares during the period. Transamerica Financial Advisors Inc. acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $32,000. CNB Bank acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $36,000. Advisory Services Network LLC grew its position in shares of Cardinal Health by 15.1% in the fourth quarter. Advisory Services Network LLC now owns 1,497 shares of the company’s stock valued at $67,000 after purchasing an additional 196 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

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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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