Wells Fargo & Company Upgrades Cardinal Health (NYSE:CAH) to Equal Weight

Cardinal Health (NYSE:CAH) was upgraded by stock analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a report issued on Friday, Marketbeat Ratings reports. The brokerage presently has a $127.00 price objective on the stock, up from their prior price objective of $101.00. Wells Fargo & Company‘s target price indicates a potential upside of 7.54% from the company’s current price.

A number of other equities analysts have also recently weighed in on CAH. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Evercore ISI boosted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Barclays raised their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, UBS Group lifted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.75.

Cardinal Health Stock Up 0.5 %

NYSE:CAH opened at $118.10 on Friday. Cardinal Health has a 52-week low of $93.17 and a 52-week high of $126.23. The stock has a fifty day simple moving average of $117.12 and a 200-day simple moving average of $108.45. The company has a market capitalization of $28.58 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

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

Institutional Trading of Cardinal Health

A number of institutional investors have recently added to or reduced their stakes in the business. Eastern Bank purchased a new position in Cardinal Health in the third quarter valued at about $25,000. Frazier Financial Advisors LLC lifted its position in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares in the last quarter. Cultivar Capital Inc. purchased a new position in Cardinal Health in the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in Cardinal Health in the third quarter valued at approximately $31,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health during the second quarter valued at approximately $29,000. 87.17% of the stock is owned by hedge funds and other 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.