Cardinal Health (NYSE:CAH) Downgraded to “Buy” at StockNews.com

Cardinal Health (NYSE:CAH) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

CAH has been the subject of several other research reports. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. UBS Group boosted their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. SVB Leerink initiated coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Finally, Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Price Performance

Shares of CAH opened at $103.81 on Wednesday. Cardinal Health has a one year low of $77.56 and a one year high of $116.04. The firm has a market capitalization of $25.25 billion, a P/E ratio of 40.87, a PEG ratio of 1.00 and a beta of 0.68. The business has a fifty day moving average of $109.54 and a 200 day moving average of $104.58.

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. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. Cardinal Health’s revenue was up 11.6% compared to the same quarter last year. Analysts expect that Cardinal Health will post 7.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds have recently made changes to their positions in CAH. Clearstead Trust LLC purchased a new stake in Cardinal Health during the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. raised its position in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares during the period. Cornerstone Planning Group LLC purchased a new stake in Cardinal Health during the third quarter valued at approximately $26,000. BKM Wealth Management LLC purchased a new stake in Cardinal Health during the fourth quarter valued at approximately $30,000. Finally, Hexagon Capital Partners LLC raised its position in Cardinal Health by 53.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.