Cardinal Health (NYSE:CAH) Cut to Buy at StockNews.com

Cardinal Health (NYSE:CAH) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Other research analysts also recently issued reports about the company. Wells Fargo & Company cut their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Robert W. Baird cut their target price on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Argus cut their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, Evercore ISI lifted their target price on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $97.77 on Tuesday. Cardinal Health has a fifty-two week low of $85.11 and a fifty-two week high of $116.04. The firm has a market capitalization of $23.81 billion, a P/E ratio of 43.45, a P/E/G ratio of 1.11 and a beta of 0.61. The company’s 50 day moving average price is $99.78 and its two-hundred day moving average price is $104.45.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.74 earnings per share. On average, analysts expect that Cardinal Health will post 7.35 earnings per share for the current year.

Institutional Trading of Cardinal Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new stake in Cardinal Health during the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. increased its holdings in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Cardinal Health during the 1st quarter worth approximately $32,000. LRI Investments LLC bought a new stake in Cardinal Health during the 1st quarter worth approximately $32,000. Finally, BKM Wealth Management LLC bought a new stake in Cardinal Health during the 4th quarter worth approximately $30,000. 87.17% of the stock is owned by 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.