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

Cardinal Health (NYSE:CAH) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other equities research analysts have also issued reports about the company. TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. UBS Group raised their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. SVB Leerink began coverage on Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Finally, Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.07.

Cardinal Health Stock Up 0.2 %

Cardinal Health stock traded up $0.16 during midday trading on Wednesday, reaching $103.54. 2,057,471 shares of the stock traded hands, compared to its average volume of 2,274,126. The stock’s fifty day moving average is $109.56 and its 200-day moving average is $104.59. Cardinal Health has a 12 month low of $77.56 and a 12 month high of $116.04. The stock has a market cap of $25.18 billion, a P/E ratio of 40.76, a PEG ratio of 0.99 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.32 EPS. On average, equities analysts predict that Cardinal Health will post 7.28 EPS for the current fiscal year.

Institutional Trading of Cardinal Health

A number of institutional investors have recently made changes to their positions in the business. Aaron Wealth Advisors LLC lifted its position in Cardinal Health by 1.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock worth $844,000 after acquiring an additional 97 shares during the period. Schechter Investment Advisors LLC lifted its position in Cardinal Health by 4.1% during the 4th quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock worth $250,000 after acquiring an additional 98 shares during the period. J. W. Coons Advisors LLC lifted its position in Cardinal Health by 0.6% during the 4th quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after acquiring an additional 100 shares during the period. Edmonds Duncan Registered Investment Advisors LLC lifted its position in Cardinal Health by 5.0% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock worth $234,000 after acquiring an additional 100 shares during the period. Finally, Cypress Capital Group lifted its position in Cardinal Health by 0.7% during the 3rd quarter. Cypress Capital Group now owns 17,133 shares of the company’s stock worth $1,487,000 after acquiring an additional 111 shares during the period. Institutional investors and hedge funds 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.