Cardinal Health, Inc. (CAH) Rating Lowered to Strong Sell at BidaskClub

Cardinal Health, Inc. (NYSE:CAH) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.

CAH has been the subject of several other reports. UBS AG restated a “neutral” rating and issued a $76.00 target price (down from $79.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Credit Suisse Group restated an “outperform” rating and issued a $87.00 target price (up from $81.00) on shares of Cardinal Health in a report on Thursday, July 13th. Barclays PLC restated an “overweight” rating and issued a $82.00 target price (down from $88.00) on shares of Cardinal Health in a report on Saturday, April 22nd. William Blair cut Cardinal Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. Finally, Jefferies Group LLC began coverage on Cardinal Health in a report on Wednesday, May 17th. They issued a “hold” rating and a $77.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $80.46.

Shares of Cardinal Health (CAH) opened at 65.16 on Wednesday. The company has a 50-day moving average price of $74.15 and a 200-day moving average price of $76.63. Cardinal Health has a 12 month low of $62.70 and a 12 month high of $84.88. The company has a market capitalization of $20.62 billion, a P/E ratio of 16.17 and a beta of 0.80.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. On average, analysts forecast that Cardinal Health will post $4.97 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of CAH. BlackRock Inc. increased its stake in shares of Cardinal Health by 1,041.8% in the first quarter. BlackRock Inc. now owns 21,444,922 shares of the company’s stock valued at $1,748,835,000 after buying an additional 19,566,764 shares during the period. Franklin Resources Inc. increased its position in Cardinal Health by 72.1% in the second quarter. Franklin Resources Inc. now owns 6,283,529 shares of the company’s stock worth $489,613,000 after buying an additional 2,632,836 shares during the last quarter. FMR LLC increased its position in Cardinal Health by 47.1% in the first quarter. FMR LLC now owns 5,915,289 shares of the company’s stock worth $482,391,000 after buying an additional 1,895,089 shares during the last quarter. Ameriprise Financial Inc. increased its position in Cardinal Health by 71.4% in the second quarter. Ameriprise Financial Inc. now owns 3,557,123 shares of the company’s stock worth $277,191,000 after buying an additional 1,482,285 shares during the last quarter. Finally, HealthCor Management L.P. acquired a new position in Cardinal Health during the second quarter worth approximately $84,496,000. Institutional investors own 86.41% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

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