Goldman Sachs Downgrades Cardinal Health Inc to Neutral with Price Target $83.00

Brokerage firm Goldman Sachs Downgrades its rating on Cardinal Health Inc(NYSE:CAH). In a research note issued to the investors, the brokerage major Lowers the price-target to $83.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Sep 16, 2016.

In a different note, On Aug 4, 2016, Deutsche Bank said it Maintains its rating on Cardinal Health Inc. In the research note, the firm Raises the price-target to $83.00 per share. The shares have been rated ‘Hold’ by the firm. On Aug 3, 2016, Citigroup said it Maintains its rating on Cardinal Health Inc. In the research note, the firm Raises the price-target to $87.00 per share. The shares have been rated ‘Neutral’ by the firm.

Cardinal Health Inc (CAH) made into the market gainers list on Thursdays trading session with the shares advancing 0.92% or 0.71 points. Due to strong positive momentum, the stock ended at $77.56, which is also near the day’s high of $77.75. The stock began the session at $77.37 and the volume stood at 24,68,298 shares. The 52-week high of the shares is $91.225 and the 52 week low is $73.2523. The company has a current market capitalization of $24,710 M and it has 31,85,88,960 shares in outstanding.

Cardinal Health Inc has also declared a cash dividend of $0.4489 on Aug 8, 2016. The shares will quote ex-dividend on Sep 29, 2016 and the record date has been fixed on Oct 3, 2016. The dividend payable date has been fixed on Oct 15, 2016.

Cardinal Health Inc(CAH) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $31.38B. Analysts had an estimated revenue of $31.17B. Earnings per share were $1.14. Analysts had estimated an EPS of $1.13.

Several Insider Transactions has been reported to the SEC. On Aug 22, 2016, Stuart G Laws (SVP & Chief Accounting Officer) sold 9,703 shares at $82.45 per share price.Also, 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.

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