Cardinal Health (NYSE:CAH) Stock Rating Upgraded by Bank of America

Cardinal Health (NYSE:CAH) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,Finviz reports. The brokerage presently has a $145.00 price objective on the stock, up from their prior price objective of $132.00. Bank of America‘s price objective suggests a potential upside of 21.54% from the stock’s current price.

Several other brokerages have also commented on CAH. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Mizuho initiated coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $101.00 to $127.00 in a research report on Friday, December 13th. Finally, Barclays upped their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $128.85.

Cardinal Health Stock Performance

Shares of CAH stock opened at $119.30 on Monday. The firm has a fifty day moving average of $118.80 and a 200-day moving average of $110.45. The stock has a market cap of $28.87 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 1.47 and a beta of 0.63. Cardinal Health has a 52-week low of $93.17 and a 52-week high of $126.23.

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 $1.62 by $0.26. The firm 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 company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.73 earnings per share. On average, sell-side analysts predict that Cardinal Health will post 7.82 earnings per share for the current year.

Hedge Funds Weigh In On Cardinal Health

Several large investors have recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in Cardinal Health by 6.0% during the 4th quarter. Nordea Investment Management AB now owns 22,372 shares of the company’s stock worth $2,659,000 after purchasing an additional 1,259 shares during the last quarter. First City Capital Management Inc. acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $209,000. Everence Capital Management Inc. raised its stake in shares of Cardinal Health by 19.2% during the fourth quarter. Everence Capital Management Inc. now owns 12,030 shares of the company’s stock worth $1,423,000 after buying an additional 1,940 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cardinal Health by 53.4% during the fourth quarter. GAMMA Investing LLC now owns 5,455 shares of the company’s stock worth $645,000 after buying an additional 1,898 shares during the last quarter. Finally, Copley Financial Group Inc. acquired a new position in Cardinal Health in the third quarter valued at approximately $507,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Company Profile

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.