Cardinal Health (NYSE:CAH) Stock Rating Lowered by Wall Street Zen

Cardinal Health (NYSE:CAH) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. 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 research report on Wednesday, August 12th. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Mizuho lifted their target price on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Bank of America boosted their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings upgraded shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Cardinal Health Stock Performance

NYSE CAH opened at $253.86 on Friday. The firm has a market capitalization of $58.78 billion, a P/E ratio of 35.11, a PEG ratio of 1.53 and a beta of 0.50. The stock has a 50-day simple moving average of $234.54 and a two-hundred day simple moving average of $222.33. Cardinal Health has a fifty-two week low of $152.46 and a fifty-two week high of $258.30.

Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, analysts forecast that Cardinal Health will post 12.55 earnings per share for the current year.

Insider Transactions at Cardinal Health

In other Cardinal Health news, CEO Jason M. Hollar sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the completion of the sale, the chief executive officer directly owned 235,132 shares in the company, valued at approximately $55,430,017.68. The trade was a 25.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the transaction, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at $18,341,790.45. The trade was a 8.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 210,271 shares of company stock worth $49,626,657 in the last three months. 0.12% of the stock is owned by corporate insiders.

Institutional Trading of Cardinal Health

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Cardinal Health during the 2nd quarter worth $308,640,000. First Nebraska Trust Co acquired a new position in shares of Cardinal Health during the 2nd quarter valued at about $20,050,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of Cardinal Health in the second quarter valued at about $1,177,000. Stack Financial Management Inc purchased a new stake in shares of Cardinal Health in the second quarter valued at about $24,681,000. Finally, NewEdge Advisors LLC increased its position in Cardinal Health by 52.9% during the first quarter. NewEdge Advisors LLC now owns 33,939 shares of the company’s stock worth $7,172,000 after purchasing an additional 11,740 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

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.