Cardinal Health (NYSE:CAH) Upgraded by Evercore ISI to “Outperform” Rating

Cardinal Health (NYSE:CAH) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat reports. The firm currently has a $140.00 price objective on the stock. Evercore ISI’s target price points to a potential upside of 17.17% from the company’s previous close.

CAH has been the subject of a number of other reports. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $101.00 to $127.00 in a research report on Friday, December 13th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $132.00 to $145.00 in a research report on Monday. UBS Group raised their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Mizuho started coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target for the company. Finally, StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $130.77.

Cardinal Health Stock Performance

CAH stock opened at $119.48 on Tuesday. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $126.23. The company’s 50-day simple moving average is $118.98 and its 200 day simple moving average is $110.56. The company has a market capitalization of $28.92 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion for 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 business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.73 earnings per share. On average, analysts forecast that Cardinal Health will post 7.82 EPS for the current year.

Institutional Trading of Cardinal Health

A number of hedge funds have recently made changes to their positions in CAH. Private Advisor Group LLC grew its holdings in Cardinal Health by 16.4% during the 2nd quarter. Private Advisor Group LLC now owns 14,056 shares of the company’s stock worth $1,382,000 after acquiring an additional 1,979 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Cardinal Health during the 2nd quarter worth $63,000. Certuity LLC lifted its holdings in Cardinal Health by 7.7% during the 2nd quarter. Certuity LLC now owns 2,217 shares of the company’s stock worth $218,000 after buying an additional 158 shares during the period. Ballentine Partners LLC grew its position in shares of Cardinal Health by 12.4% in the 2nd quarter. Ballentine Partners LLC now owns 3,641 shares of the company’s stock valued at $358,000 after buying an additional 403 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of Cardinal Health by 10.3% in the second quarter. Quest Partners LLC now owns 10,148 shares of the company’s stock valued at $998,000 after buying an additional 950 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

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.