Cardinal Health (CAH) Coverage Initiated at Wolfe Research

Investment analysts at Wolfe Research started coverage on shares of Cardinal Health (NYSE:CAH) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set an “underperform” rating on the stock.

Several other research firms have also weighed in on CAH. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. ValuEngine lowered shares of Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. UBS Group initiated coverage on shares of Cardinal Health in a report on Thursday, January 17th. They issued a “neutral” rating and a $51.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of Cardinal Health from $40.00 to $50.00 and gave the stock an “underweight” rating in a report on Monday, December 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $57.90.

Cardinal Health stock traded down $0.77 on Tuesday, hitting $48.36. The company’s stock had a trading volume of 1,003,333 shares, compared to its average volume of 3,434,377. The firm has a market capitalization of $14.35 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 0.51. Cardinal Health has a one year low of $42.17 and a one year high of $66.45.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, February 7th. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.20. Cardinal Health had a negative net margin of 0.03% and a positive return on equity of 24.01%. The business had revenue of $37.70 billion for the quarter, compared to analyst estimates of $36.09 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts predict that Cardinal Health will post 5.08 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of CAH. Vanguard Group Inc raised its position in shares of Cardinal Health by 22.0% in the 3rd quarter. Vanguard Group Inc now owns 28,021,950 shares of the company’s stock valued at $1,513,186,000 after acquiring an additional 5,058,369 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Cardinal Health by 4,912.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,698,476 shares of the company’s stock valued at $105,000 after buying an additional 4,604,746 shares in the last quarter. Norges Bank bought a new position in shares of Cardinal Health in the fourth quarter valued at $133,685,000. Renaissance Technologies LLC grew its stake in shares of Cardinal Health by 611.5% in the third quarter. Renaissance Technologies LLC now owns 2,535,800 shares of the company’s stock valued at $136,933,000 after buying an additional 2,179,400 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Cardinal Health by 8.9% in the fourth quarter. BlackRock Inc. now owns 26,135,772 shares of the company’s stock valued at $1,165,655,000 after buying an additional 2,134,377 shares in the last quarter. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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