Cardinal Health Upgraded to “Outperform” at Zacks (CAH)
Cardinal Health (NYSE:CAH) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Friday, Analyst Ratings Network.com reports. The firm currently has a $64.00 target price on the stock. Zacks‘ price target points to a potential upside of 19.63% from the stock’s previous close.
Cardinal Health (NYSE:CAH) traded up 0.47% on Friday, hitting $53.75. The stock had a trading volume of 1,043,910 shares. Cardinal Health has a 52-week low of $38.76 and a 52-week high of $53.92. The stock has a 50-day moving average of $51.75 and a 200-day moving average of $47.97. The company has a market cap of $18.246 billion and a price-to-earnings ratio of 55.33.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, August 1st. The company reported $0.79 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.02. The company had revenue of $25.40 billion for the quarter, compared to the consensus estimate of $24.56 billion. During the same quarter last year, the company posted $0.73 earnings per share. Cardinal Health’s revenue was down 5.0% compared to the same quarter last year. On average, analysts predict that Cardinal Health will post $3.58 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CAH. Analysts at Credit Suisse raised their price target on shares of Cardinal Health (NYSE:CAH) from $58.00 to $60.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Sterne Agee initiated coverage on shares of Cardinal Health (NYSE:CAH) in a research note to investors on Thursday, September 19th. They set a “neutral” rating and a $48.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Cardinal Health (NYSE:CAH) from $59.00 to $65.00 in a research note to investors on Tuesday, August 6th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $53.64.
Cardinal Health, Inc is a healthcare services company providing products and services that help pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.
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