Cardinal Health Inc (CAH) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Sep 16, 2016.
On the company’s financial health, Cardinal Health Inc reported $1.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.13. The company had revenue of $31384.00 million for the quarter, compared to analysts expectations of $31167.11 million. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.
Cardinal Health Inc closed down -2.83 points or -3.62% at $75.26 with 7,329,790 shares getting traded on Wednesday. Post opening the session at $78.07, the shares hit an intraday low of $75.04 and an intraday high of $78.07 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Investors should note that on Aug 8, 2016, Cardinal Health Inc announced a cash dividend of $0.4489. The company’s management has announced Sep 29, 2016 as the ex-dividend date and fixed the record date on Oct 3, 2016. The payable date has been fixed on Oct 15, 2016.
In a different news, on Aug 22, 2016, Stuart G Laws (SVP & Chief Accounting Officer) sold 9,703 shares at $82.45 per share price. According to the SEC, on Aug 22, 2016, Patricia Morrison (Chief Information Officer) sold 43,959 shares at $82.50 per share price. On Aug 17, 2016, Jon L Giacomin (CEO, Pharmaceutical Segment) sold 47,251 shares at $82.77 per share price, according to the Form-4 filing with the securities and exchange commission.
Cardinal Health Inc. is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers hospitals and other healthcare providers. In China the Pharmaceutical segment distributes branded generic and specialty pharmaceutical over-the-counter healthcare and consumer products provides logistics marketing and other services and operates direct-to-patient specialty pharmacies through Cardinal Health China. The Medical segment distributes a range of medical surgical and laboratory products and provides services to hospitals ambulatory surgery centers clinical laboratories and other healthcare providers.