Cardinal Health (NYSE:CAH) Upgraded by TD Cowen to “Buy” Rating

Cardinal Health (NYSE:CAH) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm presently has a $144.00 target price on the stock, up from their prior target price of $130.00. TD Cowen’s price objective would suggest a potential upside of 18.90% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Argus raised their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Morgan Stanley raised their price objective on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $145.00 in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.71.

Cardinal Health Stock Up 1.2 %

Shares of CAH stock opened at $121.11 on Wednesday. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $126.23. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.47 and a beta of 0.63. The stock has a 50-day moving average price of $119.20 and a 200 day moving average price of $110.68.

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

Institutional Trading of Cardinal Health

Large investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $90,440,000. State Street Corp raised its stake in shares of Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares during the period. Pacer Advisors Inc. lifted its position in shares of Cardinal Health by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after buying an additional 370,181 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after acquiring an additional 346,362 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Cardinal Health by 230.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after acquiring an additional 333,095 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

About Cardinal Health

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.