Cardinal Health (NYSE:CAH) Rating Increased to Strong-Buy at Argus

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

CAH has been the subject of a number of other reports. UBS Group upped their price objective on shares of Cardinal Health from $185.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Barclays initiated coverage on Cardinal Health in a research report on Monday, December 8th. They set an “overweight” rating and a $243.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday. Leerink Partners set a $240.00 price objective on Cardinal Health in a research report on Tuesday, January 13th. Finally, Robert W. Baird set a $250.00 target price on Cardinal Health in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $219.67.

Cardinal Health Stock Up 0.7%

Shares of NYSE:CAH opened at $208.29 on Thursday. The business’s 50 day moving average is $205.78 and its 200 day moving average is $176.18. Cardinal Health has a 12-month low of $120.72 and a 12-month high of $215.48. The stock has a market cap of $49.49 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.40 and a beta of 0.65.

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

Institutional Investors Weigh In On Cardinal Health

Several institutional investors have recently added to or reduced their stakes in CAH. Redhawk Wealth Advisors Inc. raised its position in shares of Cardinal Health by 0.5% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock valued at $1,902,000 after purchasing an additional 48 shares during the period. HF Advisory Group LLC grew its stake in Cardinal Health by 0.9% in the 4th quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock valued at $1,074,000 after buying an additional 49 shares in the last quarter. Latitude Advisors LLC grew its stake in Cardinal Health by 2.1% in the 3rd quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock valued at $408,000 after buying an additional 53 shares in the last quarter. Barnes Dennig Private Wealth Management LLC raised its holdings in Cardinal Health by 38.7% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company’s stock valued at $39,000 after acquiring an additional 53 shares during the period. Finally, MFA Wealth Services lifted its position in shares of Cardinal Health by 2.3% during the third quarter. MFA Wealth Services now owns 2,491 shares of the company’s stock worth $391,000 after acquiring an additional 55 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

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.