Weiss Ratings Reaffirms "Buy (B)" Rating for Cardinal Health (NYSE:CAH)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B)" rating for Cardinal Health (NYSE:CAH), indicating confidence in the company's stock performance.
• Several brokerage firms have also recently raised their price targets for Cardinal Health, with an average target price now set at $166.00.
• Cardinal Health's stock traded up to $157.77, with the company reporting a revenue of $60.16 billion for the last quarter, reflecting a year-over-year increase.

Cardinal Health (NYSE:CAH - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently commented on CAH. Leerink Partners raised their price target on shares of Cardinal Health from $186.00 to $187.00 and gave the company an "outperform" rating in a research report on Monday. Wall Street Zen cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a research report on Tuesday, August 12th. Bank of America lifted their price objective 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, UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $166.00.

Cardinal Health Trading Up 0.7%

Cardinal Health stock traded up $1.12 during trading on Wednesday, hitting $157.77. The company had a trading volume of 1,292,577 shares, compared to its average volume of 2,426,719. Cardinal Health has a 1-year low of $106.98 and a 1-year high of $168.44. The company's 50 day simple moving average is $152.03 and its 200-day simple moving average is $150.71. The stock has a market cap of $37.48 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. During the same quarter last year, the firm earned $1.84 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, analysts forecast that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cardinal Health news, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $6,187,191.50. Following the transaction, the chief executive officer directly owned 26,085 shares in the company, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michelle D. Greene sold 13,500 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares in the company, valued at approximately $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock valued at $40,489,525 in the last quarter. Corporate insiders own 0.12% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Cardinal Health by 3.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,767 shares of the company's stock worth $297,000 after buying an additional 62 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Cardinal Health by 0.4% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,805 shares of the company's stock worth $2,991,000 after buying an additional 69 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its holdings in Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company's stock worth $34,000 after buying an additional 71 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in Cardinal Health by 3.2% during the second quarter. Perigon Wealth Management LLC now owns 2,314 shares of the company's stock worth $389,000 after buying an additional 72 shares in the last quarter. Finally, Community Bank & Trust Waco Texas boosted its holdings in Cardinal Health by 1.3% during the second quarter. Community Bank & Trust Waco Texas now owns 5,598 shares of the company's stock worth $940,000 after buying an additional 74 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.

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