Argus Upgrades Cardinal Health (NYSE:CAH) to “Strong-Buy”

Cardinal Health (NYSE:CAH) was upgraded by investment analysts at Argus to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, November 18th. TD Cowen raised their target price on Cardinal Health from $183.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Robert W. Baird set a $250.00 price target on Cardinal Health in a research note on Wednesday, January 14th. UBS Group lifted their price objective on Cardinal Health from $185.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Mizuho set a $222.00 price target on Cardinal Health in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.67.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $208.29 on Thursday. The business’s 50-day simple moving average is $205.78 and its 200 day simple moving average is $176.18. The company has a market cap of $49.49 billion, a P/E ratio of 31.42, a PEG ratio of 1.40 and a beta of 0.65. Cardinal Health has a one year low of $120.72 and a one year high of $215.48.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.33. The company had revenue of $64.01 billion during the quarter, compared to the consensus estimate of $59.41 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. Cardinal Health’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the company earned $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. Analysts predict that Cardinal Health will post 7.95 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $584,420,000. Holocene Advisors LP boosted its holdings in shares of Cardinal Health by 141.4% in the third quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock valued at $302,332,000 after acquiring an additional 1,128,358 shares in the last quarter. Barclays PLC increased its stake in shares of Cardinal Health by 109.3% during the third quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock valued at $248,658,000 after acquiring an additional 827,446 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Cardinal Health by 92.5% during the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after purchasing an additional 807,063 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.