Jefferies Group LLC Reaffirms Hold Rating for Cardinal Health, Inc. (NYSE:CAH)
Cardinal Health, Inc. (NYSE:CAH)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They currently have a $77.00 target price on the stock. Jefferies Group LLC’s target price would indicate a potential upside of 0.52% from the company’s previous close.
Several other brokerages have also recently weighed in on CAH. BidaskClub cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. Needham & Company LLC initiated coverage on Cardinal Health in a report on Tuesday, April 4th. They issued a “hold” rating for the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a $87.00 price objective (up from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $82.99.
Shares of Cardinal Health (CAH) traded down 1.38% during midday trading on Thursday, reaching $76.60. The company’s stock had a trading volume of 1,640,598 shares. Cardinal Health has a 12 month low of $62.70 and a 12 month high of $85.52. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 18.29 and a beta of 0.81. The company has a 50-day moving average price of $77.09 and a 200-day moving average price of $77.17.
Cardinal Health (NYSE:CAH) last issued its earnings results on Monday, May 1st. The company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. The company had revenue of $31.82 billion during the quarter, compared to the consensus estimate of $32.30 billion. During the same period in the previous year, the company posted $1.43 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts expect that Cardinal Health will post $5.35 earnings per share for the current year.
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In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the completion of the sale, the insider now directly owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.94% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CAH. National Pension Service raised its position in shares of Cardinal Health by 1.8% in the first quarter. National Pension Service now owns 260,907 shares of the company’s stock valued at $21,308,000 after buying an additional 4,712 shares during the period. Quadrant Capital Group LLC raised its position in shares of Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock valued at $156,000 after buying an additional 116 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Cardinal Health by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 98,741 shares of the company’s stock valued at $8,052,000 after buying an additional 1,300 shares during the period. Sheets Smith Wealth Management raised its position in shares of Cardinal Health by 7.4% in the first quarter. Sheets Smith Wealth Management now owns 36,500 shares of the company’s stock valued at $2,977,000 after buying an additional 2,500 shares during the period. Finally, Charter Trust Co. raised its position in shares of Cardinal Health by 107.4% in the first quarter. Charter Trust Co. now owns 6,330 shares of the company’s stock valued at $516,000 after buying an additional 3,278 shares during the period. 87.63% of the stock is owned by institutional investors and hedge funds.
Cardinal Health Company Profile
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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