Cardinal Health, Inc. (NYSE:CAH) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Cardinal Health, Inc. has received a consensus rating of "Moderate Buy" from fourteen brokerages, with thirty-three ratings revealing three hold recommendations and eleven buy ratings.
• The average 12-month target price among analysts for Cardinal Health is approximately $158.07, with several analysts raising their price objectives in recent reports.
• Institutional investors own about 87.17% of Cardinal Health's stock, indicating strong interest from hedge funds and various investment firms in the company's performance.

Shares of Cardinal Health, Inc. (NYSE:CAH - Get Free Report) have received a consensus rating of "Moderate Buy" from the fourteen ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $158.0714.

CAH has been the topic of several research reports. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Citigroup reaffirmed a "neutral" rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Robert W. Baird lifted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley lifted their price objective on shares of Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, UBS Group lifted their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th.

Hedge Funds Weigh In On Cardinal Health

Hedge funds have recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. purchased a new position in Cardinal Health during the first quarter valued at approximately $26,000. Jones Financial Companies Lllp grew its stake in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock valued at $27,000 after acquiring an additional 14,034 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its stake in Cardinal Health by 75.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company's stock valued at $29,000 after acquiring an additional 75 shares in the last quarter. Bellwether Advisors LLC purchased a new position in Cardinal Health in the 4th quarter worth approximately $32,000. Finally, Tompkins Financial Corp grew its stake in Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

CAH opened at $157.44 on Friday. The firm has a market capitalization of $37.58 billion, a P/E ratio of 24.56, a PEG ratio of 1.56 and a beta of 0.67. Cardinal Health has a fifty-two week low of $98.07 and a fifty-two week high of $168.44. The company's 50-day moving average is $160.05 and its 200 day moving average is $143.86.

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.

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