Royal Bank Of Canada Upgrades Cardinal Health (NYSE:CAH) to “Moderate Buy”

Cardinal Health (NYSE:CAH) was upgraded by equities researchers at Royal Bank Of Canada to a “moderate buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on CAH. UBS Group lifted their target price on Cardinal Health from $274.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Evercore reiterated an “outperform” rating and set a $270.00 price target on shares of Cardinal Health in a report on Wednesday, August 12th. Citigroup raised their price objective on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, Zacks Research cut shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $234.73 on Wednesday. The company has a market capitalization of $54.59 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.26 and a beta of 0.49. The company has a 50 day simple moving average of $231.76 and a 200-day simple moving average of $217.68. Cardinal Health has a 1 year low of $145.87 and a 1 year high of $258.30.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. The firm had revenue of $63.67 billion for the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, research analysts expect that Cardinal Health will post 12.54 EPS for the current year.

Institutional Trading of Cardinal Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. LWM Advisors Inc. raised its holdings in shares of Cardinal Health by 4.4% in the second quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock valued at $244,000 after buying an additional 43 shares during the last quarter. Kathmere Capital Management LLC raised its stake in shares of Cardinal Health by 1.2% during the 1st quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock worth $896,000 after buying an additional 49 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Cardinal Health by 0.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $1,184,000 after purchasing an additional 50 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Cardinal Health by 2.6% in the 1st quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock valued at $423,000 after purchasing an additional 50 shares in the last quarter. Finally, Generali Asset Management SPA SGR lifted its stake in shares of Cardinal Health by 11.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock worth $105,000 after purchasing an additional 51 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.