Cardinal Health (NYSE:CAH) Raised to “Buy” at TD Cowen

Cardinal Health (NYSE:CAH) was upgraded by TD Cowen from a “hold” rating to a “buy” rating in a report issued on Wednesday,Briefing.com Automated Import reports. The firm presently has a $144.00 price objective on the stock, up from their prior price objective of $130.00. TD Cowen’s price target would indicate a potential upside of 18.90% from the stock’s current price.

Several other brokerages also recently issued reports on CAH. Morgan Stanley lifted their price objective on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. UBS Group increased their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Tuesday. Finally, Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.71.

Cardinal Health Stock Up 1.2 %

CAH opened at $121.11 on Wednesday. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. The business’s 50 day moving average is $119.20 and its two-hundred day moving average is $110.68. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $126.23.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 earnings per share. Equities analysts expect that Cardinal Health will post 7.82 EPS for the current fiscal year.

Institutional Trading of Cardinal Health

Several large investors have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Cardinal Health during the second quarter valued at about $90,440,000. State Street Corp boosted its position in shares of Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after acquiring an additional 627,253 shares in the last quarter. Pacer Advisors Inc. raised its position in Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after purchasing an additional 370,181 shares in the last quarter. Two Sigma Advisers LP raised its position in Cardinal Health by 47.9% in the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after purchasing an additional 346,362 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Cardinal Health by 230.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after purchasing an additional 333,095 shares during the period. 87.17% of the stock is owned by 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.