Cardinal Health (NYSE:CAH) Lifted to “Strong-Buy” at StockNews.com

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

A number of other research analysts also recently issued reports on CAH. Wells Fargo & Company reduced their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target on the stock. Barclays started coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target on the stock. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, UBS Group upped their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $105.79.

Cardinal Health Price Performance

Shares of NYSE: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 company has a market cap of $24.06 billion, a PE ratio of 38.94, a P/E/G ratio of 1.03 and a beta of 0.71. The stock’s 50-day moving average is $109.28 and its 200 day moving average is $104.97.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the previous year, the business earned $1.74 EPS. Cardinal Health’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Cardinal Health will post 7.28 EPS for the current fiscal year.

Institutional Trading of 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 4th quarter valued at $25,000. Cornerstone Planning Group LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at $26,000. Raleigh Capital Management Inc. boosted its stake in Cardinal Health by 4,466.7% during the 4th 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 last quarter. BKM Wealth Management LLC purchased a new stake in Cardinal Health during the 4th quarter valued at $30,000. Finally, YHB Investment Advisors Inc. purchased a new stake in Cardinal Health during the 1st quarter valued at $32,000. 87.17% of the stock is owned by institutional investors.

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.