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

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

Several other equities analysts have also weighed in on CAH. Robert W. Baird upped their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Citigroup lowered their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley upped their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Stock Up 1.7 %

CAH traded up $1.92 during trading on Wednesday, reaching $114.54. 1,372,439 shares of the stock traded hands, compared to its average volume of 2,101,151. The stock’s 50-day moving average is $109.30 and its 200 day moving average is $103.92. Cardinal Health has a 12 month low of $90.19 and a 12 month high of $116.05. The stock has a market capitalization of $27.90 billion, a PE ratio of 50.91, a P/E/G ratio of 1.33 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Cardinal Health will post 7.62 EPS for the current year.

Insiders Place Their Bets

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the sale, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Cardinal Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tobam raised its position in shares of Cardinal Health by 773.4% during the 1st quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after buying an additional 43,488 shares in the last quarter. Nomura Holdings Inc. raised its position in Cardinal Health by 12.3% in the 4th quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock worth $22,243,000 after purchasing an additional 24,222 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in Cardinal Health by 101.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock worth $36,010,000 after purchasing an additional 161,656 shares during the period. State Board of Administration of Florida Retirement System raised its position in Cardinal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock worth $35,160,000 after purchasing an additional 15,663 shares during the period. Finally, Park National Corp OH purchased a new position in Cardinal Health in the 1st quarter worth $1,742,000. Hedge funds and other 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.