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Market Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products Awarded Contract with Vizient for Medical Gases

[PR Newswire] – LEHIGH VALLEY, Pa., June 20, 2016 /PRNewswire/ — Air Products (APD) recently signed a supplier contract agreement with Vizient, Inc., the largest member-owned healthcare company in the country representing over $100 billion in annual healthcare purchasing. Becoming an approved Vizient supplier gives Air Products the opportunity to supply its medical gases at negotiated pricing to Vizient’s membership of academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks, and non-acute healthcare providers who access the Vizient contract portfolio. “We are pleased to be aligned with a trusted organization like Vizient,” said Sheryl Caswell, Air Products’ senior account manager, Medical. Read more on this. Air Products and Chemicals, Inc. (APD) , with a current value of $31.39B, opened this morning at $144.80. Shares have traded today between $144.09 and $146.07 per share and has traded between $114.64 and $152.16 over the past year. APD shares are currently priced at 19.16x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.61x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $3.44 per share annually in dividends, yielding 2.40%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $1.91 per share, which would be $0.26 better than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $7.48, which would be a $0.91 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.41 Billion. If reported, that would be a 2.43% decrease over the year-ago quarter. In terms of ratings, Deutsche Bank downgraded APD from Buy to Hold (Apr 4, 2016). Previously, KeyBanc Capital Mkts upgraded APD from Sector Weight to Overweight. Investors should keep in mind is that the average price target is $156.06, which is 7.78% above where the stock opened this morning. See more in (NYSE:APD) Similar Articles: Company Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products to Feature Industrial Gases and Technologies to Help Improve Foundry Operations at CastExpo 2016 Company Update: Air Products & Chemicals Inc (NYSE:APD) – Chemicals – Major Diversified Stocks Review — The Dow Chemical, Huntsman, Air Products and Chemicals, and Praxair Market Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products Receives PED Certification for New Biogas Membrane Separators
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