Cardinal Health (NYSE:CAH) Stock Rating Upgraded by StockNews.com

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

CAH has been the topic of several other research reports. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company dropped their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. SVB Leerink initiated coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price on the stock. Finally, Barclays initiated coverage on Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.79.

Cardinal Health Trading Down 4.0 %

Shares of CAH opened at $98.90 on Thursday. Cardinal Health has a 1 year low of $77.56 and a 1 year high of $116.04. The stock has a market cap of $24.06 billion, a P/E ratio of 38.94, a price-to-earnings-growth ratio of 1.03 and a beta of 0.71. The stock’s 50-day moving average price is $109.28 and its two-hundred day moving average price is $104.97.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. During the same quarter in the previous year, the business posted $1.74 EPS. Cardinal Health’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts forecast that Cardinal Health will post 7.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cornerstone Wealth Management LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $209,000. Mather Group LLC. boosted its stake in Cardinal Health by 2.5% in the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock valued at $673,000 after purchasing an additional 164 shares during the period. Nordea Investment Management AB boosted its stake in Cardinal Health by 50.5% in the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after purchasing an additional 61,933 shares during the period. Vest Financial LLC boosted its stake in Cardinal Health by 15.9% in the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock valued at $28,470,000 after purchasing an additional 38,769 shares during the period. Finally, Certuity LLC bought a new stake in Cardinal Health in the 4th quarter valued at $228,000. 87.17% of the stock is owned by institutional investors and hedge funds.

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.