Cardinal Health (NYSE:CAH) Rating Increased to Outperform at Evercore ISI

Cardinal Health (NYSE:CAH) was upgraded by research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage currently has a $140.00 price target on the stock. Evercore ISI’s price target would indicate a potential upside of 17.17% from the stock’s current price.

Other analysts have also issued research reports about the stock. Argus lifted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays upped their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $145.00 in a research note on Monday. Mizuho initiated coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Finally, Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $101.00 to $127.00 in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.77.

Cardinal Health Stock Up 0.2 %

CAH stock opened at $119.48 on Tuesday. The firm has a market cap of $28.92 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.47 and a beta of 0.63. The company’s fifty day simple moving average is $118.98 and its 200 day simple moving average is $110.56. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $126.23.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the previous year, the business earned $1.73 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. Research analysts expect that Cardinal Health will post 7.82 earnings per share for the current year.

Institutional Investors Weigh In On Cardinal Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC boosted its stake in shares of Cardinal Health by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 19,796 shares of the company’s stock worth $2,341,000 after buying an additional 313 shares during the last quarter. CWA Asset Management Group LLC boosted its position in Cardinal Health by 10.1% in the fourth quarter. CWA Asset Management Group LLC now owns 129,052 shares of the company’s stock worth $15,263,000 after purchasing an additional 11,847 shares during the last quarter. Pensionfund Sabic grew its stake in Cardinal Health by 42.0% in the 4th quarter. Pensionfund Sabic now owns 14,200 shares of the company’s stock valued at $1,679,000 after purchasing an additional 4,200 shares during the period. Nordea Investment Management AB increased its position in shares of Cardinal Health by 6.0% during the 4th quarter. Nordea Investment Management AB now owns 22,372 shares of the company’s stock valued at $2,659,000 after purchasing an additional 1,259 shares during the last quarter. Finally, First City Capital Management Inc. bought a new stake in shares of Cardinal Health during the 4th quarter worth $209,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.