Cardinal Health, Inc. (NYSE:CAH) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Cardinal Health, Inc. (NYSE:CAH) have received an average recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $109.67.

CAH has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, July 22nd. Wells Fargo & Company cut their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Evercore ISI cut their price target on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. Robert W. Baird raised their target price on shares of Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Finally, Citigroup dropped 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.

Cardinal Health Stock Up 1.2 %

NYSE:CAH opened at $99.52 on Wednesday. The company’s 50 day moving average price is $98.57 and its 200-day moving average price is $103.32. Cardinal Health has a 52 week low of $85.11 and a 52 week high of $116.04. The stock has a market cap of $24.24 billion, a price-to-earnings ratio of 44.23, a PEG ratio of 1.14 and a beta of 0.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CAH. Global Retirement Partners LLC boosted its stake in shares of Cardinal Health by 14.8% during the 4th quarter. Global Retirement Partners LLC now owns 2,382 shares of the company’s stock worth $253,000 after acquiring an additional 307 shares during the last quarter. Iowa State Bank raised its position in shares of Cardinal Health by 2.1% during the 4th quarter. Iowa State Bank now owns 35,626 shares of the company’s stock valued at $3,591,000 after purchasing an additional 727 shares during the period. DAVENPORT & Co LLC raised its position in shares of Cardinal Health by 37.8% during the 4th quarter. DAVENPORT & Co LLC now owns 5,037 shares of the company’s stock valued at $508,000 after purchasing an additional 1,381 shares during the period. Ballentine Partners LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at $259,000. Finally, Birch Capital Management LLC raised its position in shares of Cardinal Health by 1.8% during the 4th quarter. Birch Capital Management LLC now owns 18,229 shares of the company’s stock valued at $1,837,000 after purchasing an additional 328 shares during the period. 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.