Cardinal Health (NYSE:CAH) Upgraded to Buy at Jefferies Financial Group

Cardinal Health (NYSE:CAH) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Wednesday, Marketbeat.com reports. The firm presently has a $150.00 price target on the stock, up from their prior price target of $140.00. Jefferies Financial Group’s target price points to a potential upside of 18.04% from the stock’s current price.

CAH has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft upped their price target 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 upped their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research report on Tuesday, January 7th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Citigroup increased their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $136.87.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $127.07 on Wednesday. The company’s fifty day moving average is $122.35 and its two-hundred day moving average is $114.92. The stock has a market capitalization of $30.70 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $132.84.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Sell-side analysts expect that Cardinal Health will post 7.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

Several large investors have recently made changes to their positions in the business. Eastern Bank purchased a new stake in Cardinal Health during the third quarter valued at about $25,000. Frazier Financial Advisors LLC lifted its stake in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares in the last quarter. Promus Capital LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $30,000. Hara Capital LLC purchased a new stake in Cardinal Health during the third quarter valued at about $31,000. Finally, AM Squared Ltd purchased a new stake in Cardinal Health during the third quarter valued at about $33,000. 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.