Cardinal Health (NYSE:CAH) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of Cardinal Health (NYSE:CAH – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “strong-buy” rating on the stock.

A number of other research firms have also recently commented on CAH. UBS Group boosted their price target on shares of Cardinal Health from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Credit Suisse Group boosted their price objective on shares of Cardinal Health from $89.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. Robert W. Baird upgraded shares of Cardinal Health from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $87.00 to $94.00 in a report on Friday, February 3rd. Finally, Morgan Stanley boosted their price objective on shares of Cardinal Health from $86.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.64.

Cardinal Health Stock Down 1.3 %

CAH opened at $69.82 on Thursday. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.14 and a beta of 0.76. The firm has a 50-day moving average price of $76.49 and a 200-day moving average price of $74.91. Cardinal Health has a twelve month low of $49.70 and a twelve month high of $81.57.

Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. Cardinal Health had a negative net margin of 0.66% and a negative return on equity of 101.28%. The company had revenue of $51.47 billion during the quarter, compared to analysts’ expectations of $50.03 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. Cardinal Health’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, sell-side analysts expect that Cardinal Health will post 5.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Cardinal Health by 25.9% during the 3rd quarter. BlackRock Inc. now owns 28,680,859 shares of the company’s stock valued at $1,912,437,000 after purchasing an additional 5,896,875 shares during the period. State Street Corp grew its position in shares of Cardinal Health by 2.1% in the 1st quarter. State Street Corp now owns 21,802,799 shares of the company’s stock worth $1,246,751,000 after buying an additional 457,777 shares during the period. Invesco Ltd. grew its position in shares of Cardinal Health by 9.0% in the 1st quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock worth $350,748,000 after buying an additional 511,826 shares during the period. Amundi grew its position in shares of Cardinal Health by 880.8% in the 2nd quarter. Amundi now owns 5,043,836 shares of the company’s stock worth $272,619,000 after buying an additional 4,529,560 shares during the period. Finally, Morgan Stanley grew its position in shares of Cardinal Health by 3.6% in the 4th quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock worth $353,155,000 after buying an additional 161,667 shares during the period. 88.93% of the stock is owned by hedge funds and other institutional investors.

About Cardinal Health

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Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.