Cardinal Health (NYSE:CAH) Upgraded to Buy at Bank of America

Cardinal Health (NYSE:CAH) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Monday,Finviz reports. The brokerage presently has a $145.00 price objective on the stock, up from their previous price objective of $132.00. Bank of America‘s target price indicates a potential upside of 21.54% from the company’s previous close.

A number of other analysts have also recently issued reports on CAH. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $101.00 to $127.00 in a research report on Friday, December 13th. UBS Group boosted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Mizuho began coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Morgan Stanley boosted their target price on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Argus raised their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $128.85.

Cardinal Health Trading Up 1.1 %

NYSE:CAH opened at $119.30 on Monday. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $126.23. The firm has a market capitalization of $28.87 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.47 and a beta of 0.63. The business’s fifty day moving average price is $118.80 and its 200 day moving average price is $110.45.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after acquiring an additional 42,082 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the period. Alpha Cubed Investments LLC acquired a new position in shares of Cardinal Health during the third quarter valued at about $371,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Cardinal Health during the third quarter valued at about $1,691,000. Finally, National Wealth Management Group LLC acquired a new stake in Cardinal Health during the third quarter worth about $903,000. 87.17% of the stock is currently 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.