Cardinal Health (NYSE:CAH) Stock Rating Upgraded by TD Cowen

Cardinal Health (NYSE:CAH) was upgraded by investment analysts at TD Cowen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm currently has a $144.00 price target on the stock, up from their previous price target of $130.00. TD Cowen’s price target suggests a potential upside of 17.49% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Barclays upped their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Argus boosted their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. UBS Group increased their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Finally, Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $145.00 in a research report on Monday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $131.71.

Cardinal Health Trading Up 1.0 %

Cardinal Health stock opened at $122.56 on Wednesday. The stock has a fifty day moving average price of $119.77 and a 200 day moving average price of $110.84. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $126.23. The firm has a market capitalization of $29.66 billion, a P/E ratio of 23.84, a PEG ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that Cardinal Health will post 7.82 EPS for the current year.

Hedge Funds Weigh In On Cardinal Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Paragon Capital Management Inc. lifted its stake in shares of Cardinal Health by 0.7% in the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after acquiring an additional 99 shares during the period. Huntington National Bank raised its holdings in Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after purchasing an additional 100 shares in the last quarter. Blair William & Co. IL lifted its position in Cardinal Health by 0.9% in the second quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock worth $1,125,000 after purchasing an additional 103 shares during the period. Frazier Financial Advisors LLC boosted its stake in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Cardinal Health by 4.9% during the 3rd quarter. UMB Bank n.a. now owns 2,249 shares of the company’s stock valued at $249,000 after purchasing an additional 106 shares during the period. Institutional investors own 87.17% of the company’s stock.

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.