Cardinal Health (NYSE:CAH) Upgraded to “Moderate Buy” at Royal Bank Of Canada

Cardinal Health (NYSE:CAH) was upgraded by equities researchers at Royal Bank Of Canada to a “moderate buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on CAH. JPMorgan Chase & Co. increased their target price on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. UBS Group boosted their price target on Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Barclays raised their price objective on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $266.56.

Cardinal Health Stock Down 0.1%

Shares of NYSE CAH opened at $234.73 on Wednesday. The company’s 50-day simple moving average is $231.76 and its 200-day simple moving average is $217.68. Cardinal Health has a 52-week low of $145.87 and a 52-week high of $258.30. The firm has a market cap of $54.59 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion during the quarter, compared to analysts’ expectations of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities research analysts anticipate that Cardinal Health will post 12.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently made changes to their positions in CAH. BlackRock Inc. acquired a new position in Cardinal Health during the second quarter worth $6,293,115,000. Wellington Management Group LLP grew its holdings in Cardinal Health by 247.5% in the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock valued at $3,530,206,000 after buying an additional 10,584,119 shares in the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health in the 4th quarter worth $790,344,000. Bank of America Corp DE acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $689,066,000. Finally, Legal & General Group Plc purchased a new position in shares of Cardinal Health during the 2nd quarter worth $438,870,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.