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Cardinal Health (NYSE:CAH – Get Rating) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Several other research firms also recently issued reports on CAH. Mizuho lifted their price objective on Cardinal Health from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, November 14th. Credit Suisse Group lifted their price objective on Cardinal Health from $64.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, November 22nd. Morgan Stanley lifted their price objective on Cardinal Health from $76.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, November 7th. UBS Group boosted their price target on Cardinal Health from $61.00 to $78.00 and gave the company a “buy” rating in a report on Monday, August 29th. Finally, Bank Of America (Bofa) upgraded Cardinal Health from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $64.00 to $80.00 in a report on Friday, November 4th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.45.
Cardinal Health Stock Performance
Shares of NYSE:CAH traded up $0.06 during mid-day trading on Monday, hitting $79.34. 2,427,959 shares of the company traded hands, compared to its average volume of 2,896,509. The firm has a market cap of $20.80 billion, a P/E ratio of 12.96, a PEG ratio of 1.32 and a beta of 0.81. Cardinal Health has a 52-week low of $48.41 and a 52-week high of $81.57. The firm’s 50 day simple moving average is $76.38 and its 200 day simple moving average is $66.66.
Cardinal Health (NYSE:CAH – Get Rating) last announced its earnings results on Friday, November 4th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.96 by $0.24. Cardinal Health had a negative return on equity of 252.82% and a negative net margin of 0.59%. The business had revenue of $49.60 billion for the quarter, compared to the consensus estimate of $46.88 billion. Equities research analysts expect that Cardinal Health will post 5.27 EPS for the current fiscal year.
Insider Activity at Cardinal Health
In related news, insider Ola M. Snow sold 19,590 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $78.87, for a total transaction of $1,545,063.30. Following the completion of the transaction, the insider now owns 31,187 shares in the company, valued at approximately $2,459,718.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. BOK Financial Private Wealth Inc. acquired a new position in Cardinal Health during the 3rd quarter worth $28,000. LS Investment Advisors LLC acquired a new stake in shares of Cardinal Health in the second quarter valued at $27,000. Capital Advisors Ltd. LLC lifted its holdings in shares of Cardinal Health by 29.5% in the third quarter. Capital Advisors Ltd. LLC now owns 589 shares of the company’s stock valued at $39,000 after buying an additional 134 shares during the period. CX Institutional acquired a new stake in shares of Cardinal Health in the second quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Cardinal Health by 422.0% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $43,000 after buying an additional 519 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.
Cardinal Health Company Profile
(Get Rating)
Cardinal Health, Inc operates as an integrated 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.
Further Reading
- Get a free copy of the StockNews.com research report on Cardinal Health (CAH)
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