Cardinal Health (NYSE:CAH) Cut to “Buy” at StockNews.com

Cardinal Health (NYSE:CAH) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

A number of other research analysts have also commented on the company. Robert W. Baird cut their target price on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Argus cut their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Evercore ISI upped their target price on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company dropped their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Cardinal Health Stock Down 0.9 %

Shares of Cardinal Health stock opened at $95.70 on Tuesday. Cardinal Health has a 12-month low of $85.11 and a 12-month high of $116.04. The stock has a market capitalization of $23.31 billion, a P/E ratio of 42.53, a PEG ratio of 1.11 and a beta of 0.61. The stock has a 50 day moving average price of $99.48 and a two-hundred day moving average price of $104.36.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share. Sell-side analysts anticipate that Cardinal Health will post 7.35 earnings per share for the current year.

Institutional Trading of Cardinal Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clearstead Trust LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at $25,000. Raleigh Capital Management Inc. increased its stake in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at $30,000. YHB Investment Advisors Inc. acquired a new stake in shares of Cardinal Health in the first quarter valued at $32,000. Finally, LRI Investments LLC acquired a new stake in shares of Cardinal Health in the first quarter valued at $32,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About Cardinal Health

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.