Cardinal Health (NYSE:CAH) Stock Rating Lowered by Wall Street Zen

Cardinal Health (NYSE:CAH) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft raised their price target on Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Finally, Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.20.

Cardinal Health Stock Up 0.7%

CAH opened at $224.22 on Friday. The company’s 50-day moving average price is $211.38 and its 200 day moving average price is $184.51. Cardinal Health has a fifty-two week low of $120.72 and a fifty-two week high of $230.81. The firm has a market cap of $52.76 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 1.44 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The company had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.Cardinal Health’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 earnings per share. Research analysts anticipate that Cardinal Health will post 7.95 earnings per share for the current year.

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors and hedge funds have recently modified their holdings of CAH. Vanguard Group Inc. boosted its position in shares of Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after buying an additional 617,775 shares during the last quarter. State Street Corp boosted its stake in shares of Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock worth $2,570,647,000 after acquiring an additional 221,497 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cardinal Health by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after acquiring an additional 43,924 shares in the last quarter. Wellington Management Group LLP increased its stake in Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after acquiring an additional 3,511,579 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Cardinal Health during the 4th quarter worth approximately $790,344,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.