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

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

A number of other equities research analysts have also issued reports on CAH. Citigroup dropped their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Morgan Stanley lifted their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Robert W. Baird lifted their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. Finally, Wells Fargo & Company upped their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.18.

Cardinal Health Stock Performance

Shares of CAH opened at $110.89 on Friday. Cardinal Health has a one year low of $90.19 and a one year high of $116.05. The stock has a 50-day moving average of $111.64 and a two-hundred day moving average of $104.06. The stock has a market cap of $27.01 billion, a P/E ratio of 49.28, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $1.55 earnings per share. Analysts predict that Cardinal Health will post 7.61 EPS for the current fiscal year.

Insider Activity at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the sale, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now directly owns 244,091 shares in the company, valued at approximately $26,574,187.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 in the last ninety days. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Cardinal Health

Several institutional investors have recently bought and sold shares of the business. Eastern Bank bought a new position in Cardinal Health in the third quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in Cardinal Health during the second quarter worth about $27,000. LRI Investments LLC acquired a new position in shares of Cardinal Health during the 1st quarter worth about $32,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health in the 2nd quarter valued at about $29,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Cardinal Health in the 1st quarter valued at approximately $34,000. 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.