Cardinal Health (NYSE:CAH) Stock Rating Upgraded by Bank of America

Cardinal Health (NYSE:CAH) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has a $145.00 target price on the stock, up from their prior target price of $132.00. Bank of America‘s price objective would indicate a potential upside of 19.73% from the company’s current price.

Several other equities research analysts have also recently weighed in on CAH. Argus raised their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley raised their price target on shares of Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Barclays upped their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Mizuho assumed coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. Finally, StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.77.

Cardinal Health Trading Up 1.2 %

NYSE:CAH opened at $121.11 on Monday. The stock has a market capitalization of $29.31 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. Cardinal Health has a 1 year low of $93.17 and a 1 year high of $126.23. The firm has a 50 day moving average of $119.20 and a 200-day moving average of $110.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data 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. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS. As a group, analysts forecast that Cardinal Health will post 7.82 EPS for the current fiscal year.

Institutional Trading of Cardinal Health

Several hedge funds have recently added to or reduced their stakes in CAH. State Street Corp boosted its holdings in shares of Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares during the period. Geode Capital Management LLC lifted its position in Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after purchasing an additional 191,568 shares during the period. ProShare Advisors LLC increased its holdings in Cardinal Health by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after purchasing an additional 85,247 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Cardinal Health by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after purchasing an additional 111,137 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.