Deutsche Bank started coverage on shares of Cardinal Health (NYSE:CAH) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a hold rating and a $50.00 price objective on the stock.
CAH has been the subject of a number of other research reports. Argus downgraded shares of Cardinal Health from a buy rating to a hold rating in a research note on Tuesday, August 27th. Guggenheim raised shares of Cardinal Health from a neutral rating to a buy rating and raised their target price for the company from $50.00 to $52.00 in a research note on Tuesday, August 20th. Finally, Morgan Stanley reduced their price target on shares of Cardinal Health from $50.00 to $41.00 and set an underweight rating for the company in a research report on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $53.25.
Shares of NYSE CAH traded down $0.29 on Thursday, reaching $48.19. 103,893 shares of the company’s stock traded hands, compared to its average volume of 2,683,163. Cardinal Health has a 12 month low of $41.03 and a 12 month high of $58.31. The business’s 50 day simple moving average is $44.33 and its two-hundred day simple moving average is $46.49. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 1.59 and a beta of 1.29. The company has a quick ratio of 0.54, a current ratio of 1.07 and a debt-to-equity ratio of 1.20.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, August 8th. The company reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.18. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The business had revenue of $37.35 billion during the quarter, compared to the consensus estimate of $36.70 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts forecast that Cardinal Health will post 5.01 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bremer Bank National Association bought a new stake in shares of Cardinal Health during the first quarter valued at approximately $27,000. Financial Gravity Wealth Inc. increased its position in shares of Cardinal Health by 258.5% during the second quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock valued at $33,000 after acquiring an additional 499 shares in the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Cardinal Health during the second quarter valued at approximately $36,000. Trustcore Financial Services LLC increased its position in shares of Cardinal Health by 80.6% during the second quarter. Trustcore Financial Services LLC now owns 784 shares of the company’s stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Finally, WealthStone Inc. bought a new stake in shares of Cardinal Health during the second quarter valued at approximately $38,000. 88.57% of the stock is owned by institutional investors.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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