Bank of America Upgrades Cardinal Health (NYSE:CAH) to Buy

Cardinal Health (NYSE:CAH) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $145.00 target price on the stock, up from their prior target price of $132.00. Bank of America‘s price objective points to a potential upside of 19.73% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $101.00 to $127.00 in a report on Friday, December 13th. UBS Group upped their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Mizuho initiated coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $130.77.

Cardinal Health Price Performance

CAH stock opened at $121.11 on Monday. The firm has a market cap of $29.31 billion, a PE ratio of 23.56, a P/E/G ratio of 1.47 and a beta of 0.63. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $126.23. The firm has a 50 day simple moving average of $119.20 and a 200 day simple moving average of $110.68.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period last year, the firm posted $1.73 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Cardinal Health will post 7.82 earnings per share for the current year.

Institutional Trading of Cardinal Health

Several institutional investors have recently made changes to their positions in CAH. Birch Capital Management LLC raised its position in Cardinal Health by 1.5% in the fourth quarter. Birch Capital Management LLC now owns 28,822 shares of the company’s stock worth $3,409,000 after purchasing an additional 429 shares in the last quarter. Insight Wealth Strategies LLC raised its holdings in shares of Cardinal Health by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 19,796 shares of the company’s stock worth $2,341,000 after buying an additional 313 shares in the last quarter. CWA Asset Management Group LLC lifted its position in shares of Cardinal Health by 10.1% during the 4th quarter. CWA Asset Management Group LLC now owns 129,052 shares of the company’s stock worth $15,263,000 after buying an additional 11,847 shares during the period. Pensionfund Sabic boosted its stake in Cardinal Health by 42.0% in the 4th quarter. Pensionfund Sabic now owns 14,200 shares of the company’s stock valued at $1,679,000 after buying an additional 4,200 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Cardinal Health by 6.0% in the fourth quarter. Nordea Investment Management AB now owns 22,372 shares of the company’s stock valued at $2,659,000 after acquiring an additional 1,259 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Company Profile

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.