Cardinal Health (NYSE:CAH) Upgraded at Wall Street Zen

Cardinal Health (NYSE:CAH) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other equities analysts have also issued reports on CAH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. Robert W. Baird set a $252.00 price target on shares of Cardinal Health in a report on Friday, February 6th. Jefferies Financial Group raised their price target on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Finally, Argus upped their price objective on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.67.

Cardinal Health Stock Performance

NYSE CAH opened at $214.00 on Friday. The stock has a 50-day simple moving average of $217.63 and a 200 day simple moving average of $198.22. Cardinal Health has a twelve month low of $120.72 and a twelve month high of $233.60. The stock has a market capitalization of $50.36 billion, a PE ratio of 30.79, a P/E/G ratio of 1.38 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The firm had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same quarter last year, the firm posted $1.93 EPS. The company’s revenue was up 18.8% on a year-over-year basis. As a group, equities research analysts forecast that Cardinal Health will post 7.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently made changes to their positions in CAH. Strategy Asset Managers LLC acquired a new position in Cardinal Health in the third quarter worth $775,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cardinal Health by 15.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock valued at $5,938,000 after buying an additional 5,030 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Cardinal Health in the third quarter valued at $2,090,000. Atle Fund Management AB raised its holdings in shares of Cardinal Health by 13.1% in the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock valued at $4,755,000 after buying an additional 3,500 shares during the last quarter. Finally, Candriam S.C.A. raised its holdings in shares of Cardinal Health by 10.8% in the third quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock valued at $30,790,000 after buying an additional 19,155 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.