Cardinal Health (NYSE:CAH) Rating Lowered to Buy at StockNews.com

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

CAH has been the topic of several other reports. Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Morgan Stanley lifted their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI boosted their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Finally, Citigroup decreased their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health Stock Performance

NYSE:CAH opened at $113.84 on Wednesday. The stock has a market capitalization of $27.73 billion, a price-to-earnings ratio of 50.60, a PEG ratio of 1.33 and a beta of 0.60. Cardinal Health has a 1 year low of $90.19 and a 1 year high of $116.05. The stock has a fifty day moving average price of $109.51 and a two-hundred day moving average price of $103.99.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the previous year, the company earned $1.55 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts predict that Cardinal Health will post 7.62 EPS for the current year.

Insider Buying and Selling at Cardinal Health

In related news, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cardinal Health

Several large investors have recently made changes to their positions in CAH. Tobam raised its stake in shares of Cardinal Health by 773.4% during the first quarter. Tobam now owns 49,111 shares of the company’s stock valued at $5,496,000 after purchasing an additional 43,488 shares in the last quarter. Nomura Holdings Inc. lifted its stake in shares of Cardinal Health by 12.3% in the 4th quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock worth $22,243,000 after acquiring an additional 24,222 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Cardinal Health by 101.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after acquiring an additional 161,656 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Cardinal Health by 5.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock valued at $35,160,000 after acquiring an additional 15,663 shares during the period. Finally, Park National Corp OH bought a new stake in Cardinal Health during the first quarter worth approximately $1,742,000. Institutional investors and hedge funds 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.