Cardinal Health (NYSE:CAH) Stock Rating Lowered by StockNews.com

Cardinal Health (NYSE:CAH) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

A number of other research firms also recently weighed in on CAH. Argus lifted their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley boosted their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Citigroup cut their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, UBS Group increased their target price on shares of Cardinal Health from $125.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $120.18.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $116.13 on Friday. Cardinal Health has a one year low of $91.14 and a one year high of $119.13. The company has a market cap of $28.10 billion, a P/E ratio of 33.56, a PEG ratio of 1.48 and a beta of 0.60. The firm has a fifty day moving average of $111.75 and a two-hundred day moving average of $104.19.

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 the consensus estimate of $1.64 by $0.24. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the prior year, the company posted $1.73 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts predict that Cardinal Health will post 7.61 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now directly owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,963 shares of company stock valued at $12,379,980. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atria Investments Inc boosted its stake in Cardinal Health by 7.5% in the 3rd quarter. Atria Investments Inc now owns 12,810 shares of the company’s stock worth $1,416,000 after buying an additional 899 shares during the last quarter. Assetmark Inc. boosted its position in shares of Cardinal Health by 25.8% in the third quarter. Assetmark Inc. now owns 37,561 shares of the company’s stock worth $4,151,000 after acquiring an additional 7,692 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Cardinal Health in the third quarter valued at approximately $12,954,000. Fiera Capital Corp acquired a new position in Cardinal Health during the third quarter worth approximately $507,000. Finally, Philip James Wealth Mangement LLC purchased a new position in Cardinal Health during the third quarter worth approximately $1,763,000. Hedge funds and other institutional investors 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.