Cardinal Health, Inc. (CAH) to Issue Quarterly Dividend of $0.51 on January 15th

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 1.75%. The ex-dividend date is Thursday, January 2nd.

Cardinal Health has raised its dividend payment by an average of 1.0% annually over the last three years and has increased its dividend every year for the last 28 years. Cardinal Health has a payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. 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 2.1 %

Shares of CAH opened at $115.58 on Thursday. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $119.13. The company has a market capitalization of $27.97 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The firm has a 50 day moving average of $111.95 and a 200 day moving average of $104.31.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 EPS. On average, sell-side analysts expect that Cardinal Health will post 7.69 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Argus raised their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Barclays raised their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Robert W. Baird raised their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.00.

Insider Transactions at Cardinal Health

In other news, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the completion of the transaction, the insider now owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 over the last three months. Corporate insiders own 0.09% of the company’s stock.

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.