Cardinal Health, Inc. (CAH) Stock Rating Reaffirmed by Needham & Company LLC
Cardinal Health, Inc. (NYSE:CAH)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Thursday.
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Cowen and Company raised shares of Cardinal Health to a “buy” rating and set a $74.00 price target for the company in a research report on Tuesday. Jefferies Group LLC reissued a “hold” rating and issued a $77.00 price target on shares of Cardinal Health in a research report on Thursday, July 27th. Robert W. Baird reissued a “hold” rating and issued a $73.00 price target on shares of Cardinal Health in a research report on Sunday, September 17th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $76.00 target price (down from $79.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $76.54.
Shares of Cardinal Health (NYSE:CAH) traded up 1.3622% during trading on Thursday, reaching $66.7166. The company had a trading volume of 919,323 shares. The firm has a 50-day moving average of $67.24 and a 200 day moving average of $73.03. Cardinal Health has a 1-year low of $62.70 and a 1-year high of $84.88. The firm has a market capitalization of $21.11 billion, a PE ratio of 16.5550 and a beta of 0.86.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same period in the previous year, the company earned $1.14 earnings per share. Cardinal Health’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts expect that Cardinal Health will post $4.95 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of CAH. Victory Capital Management Inc. increased its stake in shares of Cardinal Health by 15.7% during the first quarter. Victory Capital Management Inc. now owns 20,291 shares of the company’s stock worth $1,655,000 after acquiring an additional 2,760 shares during the period. Comerica Securities Inc. increased its stake in shares of Cardinal Health by 3.0% during the first quarter. Comerica Securities Inc. now owns 40,579 shares of the company’s stock worth $3,309,000 after acquiring an additional 1,190 shares during the period. Sivik Global Healthcare LLC acquired a new position in shares of Cardinal Health during the first quarter worth about $2,854,000. Ariel Investments LLC increased its stake in shares of Cardinal Health by 1,944.5% during the first quarter. Ariel Investments LLC now owns 746,789 shares of the company’s stock worth $60,901,000 after acquiring an additional 710,263 shares during the period. Finally, Spark Investment Management LLC increased its stake in shares of Cardinal Health by 21.2% during the first quarter. Spark Investment Management LLC now owns 127,700 shares of the company’s stock worth $10,413,000 after acquiring an additional 22,300 shares during the period. Institutional investors and hedge funds own 87.98% 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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