Cardinal Health, Inc. (NYSE:CAH) Announces Quarterly Dividend of $0.51
Cardinal Health, Inc. (NYSE:CAH) has announced a quarterly dividend of $0.51, payable on July 15th to shareholders of record on July 1st. This marks a 1.0% increase from the previous dividend, resulting in an annualized dividend of $2.04 and a yield of 1.35%. The company has consistently raised its dividend for 28 years, with a payout ratio of 22.5%. Analysts predict earnings of $8.95 per share for the next year, supporting the dividend coverage. Cardinal Health's stock recently traded at $151.73, with a market cap of $36.65 billion.
Cardinal Health, Inc. (NYSE:CAH - Get Free Report) announced a quarterly dividend on Monday, May 5th, RTT News reports. Investors of record on Tuesday, July 1st will be paid a dividend of 0.5107 per share on Tuesday, July 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.35%. This is a 1.0% increase from Cardinal Health's previous quarterly dividend of $0.51.
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- Medical Technology Stock Benefits from Rising Acute Care Demand
Cardinal Health has increased its dividend payment by an average of 1.0% per year over the last three years and has increased its dividend annually for the last 28 consecutive years. Cardinal Health has a payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $8.95 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 22.6%.
Cardinal Health Price Performance
Shares of NYSE:CAH traded up $2.20 during trading hours on Monday, hitting $151.73. The company's stock had a trading volume of 3,159,855 shares, compared to its average volume of 2,194,562. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $153.41. The firm's fifty day moving average price is $132.38 and its 200 day moving average price is $125.16. The company has a market capitalization of $36.65 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 1.49 and a beta of 0.61.
- For Cardinal Health, the Proof Will be in Its Performance
Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. The firm had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm's revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 earnings per share. On average, equities research analysts predict that Cardinal Health will post 7.95 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on CAH shares. Wells Fargo & Company lifted their target price on Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Bank of America upped their price target on Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, April 11th. Argus set a $148.00 price objective on Cardinal Health in a report on Tuesday, February 4th. Citigroup boosted their target price on Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Finally, Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and increased their target price for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $146.43.
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Cardinal Health Company Profile
(Get Free Report)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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