Cardinal Health, Inc. (NYSE:CAH) Downgraded by BidaskClub to Sell
Cardinal Health, Inc. (NYSE:CAH) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.
Other equities analysts have also recently issued research reports about the company. William Blair cut Cardinal Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. Evercore ISI raised Cardinal Health to an “outperform” rating in a report on Thursday, April 6th. Jefferies Group LLC assumed coverage on Cardinal Health in a report on Wednesday, May 17th. They issued a “hold” rating and a $77.00 price target for the company. ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $80.46.
Shares of Cardinal Health (NYSE CAH) traded down 0.32% on Friday, hitting $69.14. The stock had a trading volume of 2,406,963 shares. The stock has a market cap of $21.85 billion, a P/E ratio of 17.16 and a beta of 0.80. The firm’s 50-day moving average is $77.38 and its 200 day moving average is $77.27. Cardinal Health has a 1-year low of $62.70 and a 1-year high of $84.90.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. The firm had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. Equities analysts forecast that Cardinal Health will post $5.07 EPS for the current year.
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 sale, the insider now directly owns 55,440 shares in the company, valued at approximately $4,039,912.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.94% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CAH. Chevy Chase Trust Holdings Inc. raised its stake in Cardinal Health by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 274,051 shares of the company’s stock worth $22,349,000 after buying an additional 4,174 shares during the period. Denali Advisors LLC raised its stake in Cardinal Health by 50.4% in the first quarter. Denali Advisors LLC now owns 170,600 shares of the company’s stock worth $13,912,000 after buying an additional 57,200 shares during the period. Charter Trust Co. raised its stake in Cardinal Health by 107.4% in the first quarter. Charter Trust Co. now owns 6,330 shares of the company’s stock worth $516,000 after buying an additional 3,278 shares during the period. Sheets Smith Wealth Management raised its stake in Cardinal Health by 7.4% in the first quarter. Sheets Smith Wealth Management now owns 36,500 shares of the company’s stock worth $2,977,000 after buying an additional 2,500 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in Cardinal Health by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 98,741 shares of the company’s stock worth $8,052,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 87.31% of the company’s stock.
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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