Cardinal Health (NYSE:CAH) Upgraded at Wells Fargo & Company

Cardinal Health (NYSE:CAH - Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a report released on Tuesday, MarketBeat.com reports. The firm presently has a $179.00 price objective on the stock, up from their previous price objective of $136.00. Wells Fargo & Company's price target indicates a potential upside of 16.35% from the company's previous close.

CAH has been the topic of a number of other research reports. Bank of America boosted their price objective on Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Morgan Stanley upped their price objective on shares of Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 5th. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their target price for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Finally, Robert W. Baird raised their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $149.50.

Cardinal Health Trading Down 0.1%

CAH traded down $0.22 on Tuesday, hitting $153.85. 2,257,257 shares of the company's stock were exchanged, compared to its average volume of 2,216,547. Cardinal Health has a fifty-two week low of $93.17 and a fifty-two week high of $157.82. The stock has a market cap of $36.72 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 1.49 and a beta of 0.66. The firm has a 50-day moving average price of $142.85 and a 200-day moving average price of $130.95.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. During the same period in the previous year, the business posted $2.08 earnings per share. Cardinal Health's quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts predict that Cardinal Health will post 7.95 EPS for the current year.

Institutional Investors Weigh In On Cardinal Health

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Cardinal Health by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock valued at $691,145,000 after acquiring an additional 109,273 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Cardinal Health by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock valued at $575,327,000 after purchasing an additional 1,193,983 shares in the last quarter. Invesco Ltd. increased its stake in Cardinal Health by 4.6% in the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock valued at $376,396,000 after purchasing an additional 140,368 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after buying an additional 1,913,892 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Cardinal Health by 3.5% in the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company's stock valued at $433,012,000 after buying an additional 105,154 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.