Cardinal Health (NYSE:CAH) Stock Rating Upgraded by Wells Fargo & Company

Cardinal Health (NYSE:CAH) was upgraded by analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a report issued on Friday,Finviz reports. The firm presently has a $127.00 price target on the stock, up from their previous price target of $101.00. Wells Fargo & Company‘s price objective suggests a potential upside of 8.12% from the company’s previous close.

CAH has been the subject of several other research reports. UBS Group increased their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.75.

Cardinal Health Stock Up 0.0 %

Shares of NYSE:CAH opened at $117.46 on Friday. The business has a 50 day moving average price of $117.00 and a 200 day moving average price of $108.20. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.47 and a beta of 0.61. Cardinal Health has a twelve month low of $93.17 and a twelve 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, topping the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. Analysts anticipate that Cardinal Health will post 7.82 EPS for the current year.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently made changes to their positions in CAH. Assenagon Asset Management S.A. increased its position in Cardinal Health by 9.4% in the second quarter. Assenagon Asset Management S.A. now owns 10,385 shares of the company’s stock worth $1,021,000 after purchasing an additional 891 shares during the period. Blue Trust Inc. increased its position in shares of Cardinal Health by 41.5% in the 2nd quarter. Blue Trust Inc. now owns 3,400 shares of the company’s stock valued at $334,000 after buying an additional 998 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Cardinal Health by 15.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 18,694 shares of the company’s stock worth $1,838,000 after acquiring an additional 2,488 shares in the last quarter. Milestone Asset Management LLC grew its stake in Cardinal Health by 7.7% in the second quarter. Milestone Asset Management LLC now owns 5,689 shares of the company’s stock valued at $559,000 after acquiring an additional 408 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Cardinal Health by 6.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 38,895 shares of the company’s stock worth $3,854,000 after acquiring an additional 2,225 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

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.