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

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

A number of other research firms also recently commented on CAH. Citigroup reduced their price objective on shares of Cardinal Health from $249.00 to $245.00 and set a “buy” rating for the company in a report on Friday, May 1st. Evercore dropped their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. William Blair initiated coverage on shares of Cardinal Health in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Barclays lifted their price objective on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lowered their price objective on 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 investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $246.93.

Cardinal Health Trading Down 0.0%

Shares of NYSE CAH opened at $223.76 on Monday. The firm has a market capitalization of $52.41 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 1.22 and a beta of 0.52. Cardinal Health has a one year low of $137.75 and a one year high of $233.60. The business has a fifty day simple moving average of $203.21 and a 200 day simple moving average of $208.83.

Cardinal Health (NYSE:CAH) last posted its quarterly 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. The firm had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, research analysts anticipate that Cardinal Health will post 10.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after buying an additional 617,775 shares during the last quarter. State Street Corp raised its stake in shares of Cardinal Health by 1.8% in the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after acquiring an additional 221,497 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after acquiring an additional 43,924 shares in the last quarter. Wellington Management Group LLP grew its position in Cardinal Health by 153.2% during 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 Cardinal Health during the 4th quarter worth approximately $790,344,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About Cardinal Health

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.