Cardinal Health (NYSE:CAH) Stock Rating Lowered by Wall Street Zen

Key Points

• Cardinal Health's stock rating has been downgraded from a "strong-buy" to a "buy" by Wall Street Zen, signaling a shift in analyst sentiment.
• Despite the downgrade, other analysts have raised their price targets for Cardinal Health, with UBS Group increasing it from $150 to $160, indicating overall positive market expectations.
• The company reported quarterly earnings surpassing estimates with an EPS of $2.35, while revenue slightly missed analyst expectations at $54.88 billion.

Cardinal Health (NYSE:CAH - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

A number of other equities research analysts also recently commented on CAH. UBS Group raised their target price on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Citigroup reiterated a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Morgan Stanley boosted their price objective on shares of Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Bank of America upped their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $158.07.

Cardinal Health Stock Up 0.5%

Shares of NYSE:CAH opened at $155.97 on Friday. The company has a 50-day moving average price of $159.74 and a 200 day moving average price of $142.70. Cardinal Health has a 52 week low of $96.05 and a 52 week high of $168.44. The company has a market cap of $37.23 billion, a P/E ratio of 24.33, a PEG ratio of 1.54 and a beta of 0.67.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The business had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. During the same period last year, the firm earned $2.08 EPS. The company's quarterly revenue was up .0% compared to the same quarter last year. Analysts expect that Cardinal Health will post 7.95 EPS for the current year.

Institutional Trading of Cardinal Health

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in Cardinal Health by 5.3% in the 1st quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock valued at $43,510,000 after purchasing an additional 15,956 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its stake in shares of Cardinal Health by 17.2% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after buying an additional 457 shares during the period. Assenagon Asset Management S.A. boosted its position in Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock worth $1,811,000 after acquiring an additional 2,694 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Cardinal Health by 569.5% in the 1st quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after acquiring an additional 336 shares during the period. Finally, North Capital Inc. acquired a new position in Cardinal Health in the 1st quarter valued at $83,000. Institutional investors and hedge funds own 87.17% of the company's stock.

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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