Cardinal Health, Inc. (NYSE:CAH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, November 8th.
According to Zacks, “Over the last year, Cardinal Health has underperformed the broader industry with respect to price. Increasing generic pricing pressure is a major headwind. Intensifying competition and customer concentration are other bottlenecks. A sluggish macroeconomic scenario and tough product pricing environment are likely to impede growth. Meanwhile, the company is banking on strategic buyouts, joint ventures and supply agreements to drive growth. A solid fiscal 2018 guidance instills our confidence in the stock. Also, Cardinal Health ended first-quarter on a solid note, courtesy of an encouraging performance at the Medical segment. Although, the Pharmaceutical segment witnessed strong growth in the Specialty business and gained a huge number of Pharmaceutical Distribution customers, profits at the segment were hurt by generic pharmaceutical pricing and the loss of a major Pharmaceutical Distribution customer.”
Several other equities research analysts have also recently commented on CAH. BidaskClub cut Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Credit Suisse Group lowered their price target on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. UBS AG reissued a “neutral” rating and issued a $76.00 price target (down previously from $79.00) on shares of Cardinal Health in a research note on Wednesday, August 9th. Cowen Inc reissued a “market perform” rating and issued a $77.00 price target (down previously from $82.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $74.81.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Monday, November 6th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.09. The business had revenue of $32.64 billion during the quarter, compared to analysts’ expectations of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. research analysts expect that Cardinal Health will post 4.97 earnings per share for the current year.
Several hedge funds have recently modified their holdings of CAH. Steward Partners Investment Advisory LLC acquired a new position in shares of Cardinal Health during the third quarter worth approximately $102,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Cardinal Health by 31.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock worth $123,000 after buying an additional 382 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of Cardinal Health by 18.4% during the second quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock worth $136,000 after buying an additional 270 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Cardinal Health by 14.3% during the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock worth $152,000 after buying an additional 244 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new position in shares of Cardinal Health during the second quarter worth approximately $164,000. Institutional investors own 88.50% of the company’s stock.
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About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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