Cardinal Health (NYSE:CAH) Upgraded by StockNews.com to Strong-Buy

Cardinal Health (NYSE:CAH) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company lifted their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday. Morgan Stanley lifted their price target on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday. Argus cut their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. UBS Group lifted their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Robert W. Baird lifted their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.69.

Cardinal Health Stock Performance

Shares of CAH stock traded up $1.98 during mid-day trading on Friday, hitting $109.89. The company’s stock had a trading volume of 2,452,194 shares, compared to its average volume of 2,154,872. The company’s fifty day simple moving average is $99.38 and its 200-day simple moving average is $103.23. Cardinal Health has a 52 week low of $85.11 and a 52 week high of $116.04. The company has a market cap of $26.77 billion, a PE ratio of 48.84, a P/E/G ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same period last year, the company posted $1.55 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts anticipate that Cardinal Health will post 7.35 earnings per share for the current year.

Institutional Trading of Cardinal Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearstead Trust LLC purchased a new position in Cardinal Health during the fourth quarter worth about $25,000. Cultivar Capital Inc. purchased a new position in Cardinal Health during the second quarter worth about $27,000. Raleigh Capital Management Inc. grew 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 worth $28,000 after buying an additional 268 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Cardinal Health during the first quarter worth about $32,000. Finally, LRI Investments LLC purchased a new position in Cardinal Health during the first quarter worth about $32,000. 87.17% of the stock is currently 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.