Cardinal Health (NYSE:CAH – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.
A number of other equities analysts have also weighed in on the stock. UBS Group lifted their price target on shares of Cardinal Health from $280.00 to $295.00 and gave the company a “buy” rating in a report on Friday, October 16th. Robert W. Baird upped their price objective on Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Weiss Ratings raised Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Citigroup lifted their target price on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Bank of America lifted their target price on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.38.
Read Our Latest Report on Cardinal Health
Cardinal Health Price Performance
NYSE CAH opened at $251.91 on Friday. Cardinal Health has a 12 month low of $161.35 and a 12 month high of $259.21. The company has a 50-day moving average of $236.57 and a 200-day moving average of $221.39. The company has a market cap of $58.33 billion, a P/E ratio of 34.84, a P/E/G ratio of 1.50 and a beta of 0.50.
Cardinal Health (NYSE:CAH – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts anticipate that Cardinal Health will post 12.55 EPS for the current year.
Insider Activity
In other news, CEO Stephen M. Mason sold 35,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total value of $8,274,000.00. Following the completion of the sale, the chief executive officer owned 18,061 shares of the company’s stock, valued at $4,269,620.40. This represents a 65.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle D. Greene sold 11,650 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the completion of the transaction, the insider directly owned 10,330 shares in the company, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 over the last quarter. 0.12% of the stock is owned by insiders.
Institutional Trading of Cardinal Health
A number of institutional investors have recently added to or reduced their stakes in CAH. BlackRock Inc. purchased a new stake in shares of Cardinal Health in the second quarter worth about $6,293,115,000. Wellington Management Group LLP raised its holdings in shares of Cardinal Health by 247.5% during the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after buying an additional 10,584,119 shares during the period. Bank of America Corp DE purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at about $689,066,000. Legal & General Group Plc purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at about $438,870,000. Finally, Pacer Advisors Inc. lifted its position in Cardinal Health by 14.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock worth $330,728,000 after acquiring an additional 200,021 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.
Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.
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