Cardinal Health, Inc. (NYSE:CAH) to Issue Quarterly Dividend of $0.51

Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend on Tuesday, November 5th, RTT News reports. Stockholders of record on Thursday, January 2nd will be paid a dividend of 0.5056 per share on Wednesday, January 15th. This represents a $2.02 annualized dividend and a dividend yield of 1.79%.

Cardinal Health has increased its dividend by an average of 1.0% per year over the last three years and has increased its dividend every year for the last 28 years. Cardinal Health has a dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $8.54 per share next year, which means the company should continue to be able to cover its $2.02 annual dividend with an expected future payout ratio of 23.7%.

Cardinal Health Stock Up 1.1 %

NYSE CAH traded up $1.28 during trading hours on Tuesday, hitting $113.18. The company’s stock had a trading volume of 1,773,544 shares, compared to its average volume of 2,082,850. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $119.13. The firm has a market capitalization of $27.39 billion, a P/E ratio of 22.02, a PEG ratio of 1.57 and a beta of 0.60. The stock has a fifty day moving average of $111.79 and a 200 day moving average of $104.20.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 earnings per share. On average, analysts predict that Cardinal Health will post 7.69 earnings per share for the current year.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group increased their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley increased their price objective on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday. Argus boosted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, Mizuho boosted their price target on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

About Cardinal Health

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.