Cardinal Health (NYSE:CAH) Upgraded at StockNews.com

Cardinal Health (NYSE:CAH) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Several other analysts also recently commented on CAH. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Wells Fargo & Company lowered their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday. Barclays began coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price for the company. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price for the company. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.93.

Cardinal Health Stock Down 0.8 %

CAH stock opened at $102.17 on Thursday. The company has a market cap of $24.85 billion, a P/E ratio of 40.22, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. Cardinal Health has a twelve month low of $77.56 and a twelve month high of $116.04. The business’s fifty day moving average is $109.43 and its 200-day moving average is $105.00.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.56 by $0.26. The business had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. Research analysts anticipate that Cardinal Health will post 7.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently bought and sold shares of CAH. Brookstone Capital Management grew its holdings in Cardinal Health by 6.4% during the third quarter. Brookstone Capital Management now owns 12,043 shares of the company’s stock worth $1,118,000 after purchasing an additional 724 shares during the period. Commonwealth Equity Services LLC lifted its position in Cardinal Health by 9.3% during the third quarter. Commonwealth Equity Services LLC now owns 84,096 shares of the company’s stock worth $7,301,000 after acquiring an additional 7,174 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Cardinal Health by 5.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 37,173 shares of the company’s stock worth $3,227,000 after acquiring an additional 2,024 shares during the last quarter. Mission Wealth Management LP lifted its position in Cardinal Health by 34.5% during the third quarter. Mission Wealth Management LP now owns 3,853 shares of the company’s stock worth $335,000 after acquiring an additional 988 shares during the last quarter. Finally, Raymond James & Associates lifted its position in Cardinal Health by 3.8% during the third quarter. Raymond James & Associates now owns 255,118 shares of the company’s stock worth $22,149,000 after acquiring an additional 9,277 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

About Cardinal Health

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.