TheStreet downgraded shares of Cardinal Health (NYSE:CAH) from a c+ rating to a d rating in a report released on Thursday, TheStreetRatingsTable reports.
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A number of other brokerages have also recently weighed in on CAH. Deutsche Bank started coverage on Cardinal Health in a research report on Thursday, September 12th. They issued a hold rating and a $50.00 price target for the company. Morgan Stanley dropped their price target on Cardinal Health from $50.00 to $41.00 and set an underweight rating for the company in a research report on Friday, September 6th. ValuEngine upgraded Cardinal Health from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Argus cut Cardinal Health from a buy rating to a hold rating in a research report on Tuesday, August 27th. Finally, Guggenheim set a $55.00 price target on Cardinal Health and gave the company a buy rating in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $53.50.
Shares of CAH stock traded up $0.55 during mid-day trading on Thursday, reaching $53.75. The stock had a trading volume of 3,313,580 shares, compared to its average volume of 2,953,817. Cardinal Health has a 12-month low of $41.03 and a 12-month high of $58.31. The company has a market cap of $15.06 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.32. The business has a 50-day simple moving average of $48.75 and a 200 day simple moving average of $46.39. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The business had revenue of $37.34 billion during the quarter, compared to analysts’ expectations of $36.75 billion. During the same quarter last year, the business posted $1.29 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts anticipate that Cardinal Health will post 4.99 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of CAH. Larson Financial Group LLC acquired a new stake in shares of Cardinal Health during the third quarter valued at $28,000. Advantage Investment Management LLC acquired a new stake in shares of Cardinal Health during the third quarter valued at $31,000. Financial Gravity Wealth Inc. boosted its stake in shares of Cardinal Health by 258.5% during the second quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock valued at $33,000 after acquiring an additional 499 shares during the last quarter. NuWave Investment Management LLC boosted its stake in shares of Cardinal Health by 358.1% during the third quarter. NuWave Investment Management LLC now owns 765 shares of the company’s stock valued at $35,000 after acquiring an additional 598 shares during the last quarter. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of Cardinal Health during the second quarter valued at $36,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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