Investment analysts at Wells Fargo & Company started coverage on shares of Cardinal Health (NYSE:CAH – Get Free Report) in a report issued on Thursday, Briefing.com reports. The firm set an “underweight” rating and a $96.00 price target on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 11.15% from the company’s current price.
A number of other research analysts have also weighed in on the stock. TheStreet raised shares of Cardinal Health from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. Evercore ISI cut their target price on shares of Cardinal Health from $100.00 to $95.00 in a report on Wednesday, October 11th. Morgan Stanley raised their target price on shares of Cardinal Health from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 16th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $101.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, November 17th. Finally, TD Cowen raised their target price on shares of Cardinal Health from $88.00 to $90.00 and gave the company a “market perform” rating in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $96.77.
Read Our Latest Stock Report on Cardinal Health
Cardinal Health Price Performance
Shares of CAH opened at $108.05 on Thursday. Cardinal Health has a 1 year low of $68.53 and a 1 year high of $108.85. The company has a 50 day simple moving average of $99.68 and a two-hundred day simple moving average of $93.23. The firm has a market cap of $26.63 billion, a P/E ratio of 177.13, a price-to-earnings-growth ratio of 1.03 and a beta of 0.80.
Cardinal Health (NYSE:CAH – Get Free Report) last announced its quarterly earnings data on Friday, November 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.33. Cardinal Health had a net margin of 0.07% and a negative return on equity of 60.27%. The business had revenue of $54.76 billion during the quarter, compared to analyst estimates of $54.85 billion. During the same period last year, the firm posted $1.20 EPS. The company’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cardinal Health will post 6.89 earnings per share for the current year.
Insider Transactions at Cardinal Health
In other news, CEO Deborah Weitzman sold 36,642 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $106.31, for a total transaction of $3,895,411.02. Following the completion of the sale, the chief executive officer now directly owns 35,202 shares of the company’s stock, valued at $3,742,324.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.
Institutional Trading of Cardinal Health
Large investors have recently made changes to their positions in the stock. Private Trust Co. NA boosted its stake in shares of Cardinal Health by 110.9% during the second quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock valued at $154,000 after purchasing an additional 854 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Cardinal Health by 4.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,535 shares of the company’s stock worth $14,159,000 after acquiring an additional 7,431 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Cardinal Health in the first quarter worth about $692,000. Summit X LLC lifted its stake in Cardinal Health by 6.8% in the second quarter. Summit X LLC now owns 3,685 shares of the company’s stock worth $348,000 after acquiring an additional 234 shares during the period. Finally, Korea Investment CORP lifted its stake in Cardinal Health by 3.1% in the first quarter. Korea Investment CORP now owns 135,396 shares of the company’s stock worth $10,222,000 after acquiring an additional 4,117 shares during the period. 86.01% of the stock is owned by hedge funds and other institutional investors.
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.
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