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.

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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 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.

Analyst Recommendations for Cardinal Health (NYSE:CAH)

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