Wall Street Zen Downgrades Cardinal Health (NYSE:CAH) to Buy

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

Other analysts have also issued reports about the stock. Weiss Ratings lowered shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Morgan Stanley increased their price target on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Citigroup dropped their price target on shares of Cardinal Health from $249.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Mizuho increased their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $241.80.

Cardinal Health Stock Performance

CAH stock opened at $196.57 on Friday. The company’s 50 day moving average price is $203.52 and its 200 day moving average price is $208.79. Cardinal Health has a fifty-two week low of $137.75 and a fifty-two week high of $233.60. The firm has a market capitalization of $46.04 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.19 and a beta of 0.53.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The firm had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. Equities analysts forecast that Cardinal Health will post 10.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds have recently modified their holdings of CAH. Aventura Private Wealth LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cardinal Health during the fourth quarter worth $26,000. Bank of Jackson Hole Trust acquired a new stake in shares of Cardinal Health during the fourth quarter worth $27,000. Jones Financial Companies Lllp lifted its holdings in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the period. Finally, Palladiem LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $28,000. 87.17% of the stock is owned by institutional investors and hedge funds.

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.