Cardinal Health (NYSE:CAH) Raised to Outperform at Evercore ISI

Cardinal Health (NYSE:CAH) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a $140.00 price objective on the stock. Evercore ISI’s target price would suggest a potential upside of 14.23% from the company’s previous close.

CAH has been the topic of a number of other research reports. Morgan Stanley raised their target price on shares of Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Barclays lifted their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $145.00 in a research note on Monday. Finally, Mizuho started coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.71.

Cardinal Health Price Performance

Shares of CAH opened at $122.56 on Tuesday. The firm has a market capitalization of $29.66 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.47 and a beta of 0.63. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $126.23. The company has a 50-day moving average of $119.49 and a 200 day moving average of $110.76.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts anticipate that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently modified their holdings of CAH. Eastern Bank acquired a new stake in Cardinal Health during the third quarter worth about $25,000. Frazier Financial Advisors LLC grew its stake in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Cardinal Health during the 2nd quarter valued at approximately $29,000. Hara Capital LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $31,000. Finally, AM Squared Ltd purchased a new stake in Cardinal Health during the third quarter worth $33,000. 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.