Cardinal Health Inc (NYSE:CAH) has received a consensus rating of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $52.86.
Several equities analysts have commented on CAH shares. Morgan Stanley dropped their price target on shares of Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, September 6th. Deutsche Bank started coverage on shares of Cardinal Health in a research note on Thursday, September 12th. They issued a “hold” rating and a $50.00 price target for the company. Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Guggenheim set a $55.00 price objective on shares of Cardinal Health and gave the stock a “buy” rating in a research report on Thursday, September 12th.
Institutional investors have recently added to or reduced their stakes in the company. Swedbank purchased a new stake in Cardinal Health in the second quarter valued at $106,911,000. Invesco Ltd. lifted its position in Cardinal Health by 28.5% in the second quarter. Invesco Ltd. now owns 8,150,786 shares of the company’s stock valued at $383,901,000 after acquiring an additional 1,808,381 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Cardinal Health by 236.2% in the second quarter. Nuveen Asset Management LLC now owns 2,044,496 shares of the company’s stock valued at $96,296,000 after acquiring an additional 1,436,412 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Cardinal Health by 300.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 842,710 shares of the company’s stock valued at $40,498,000 after acquiring an additional 632,279 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Cardinal Health by 1.8% in the second quarter. Vanguard Group Inc. now owns 35,800,690 shares of the company’s stock valued at $1,686,212,000 after acquiring an additional 622,563 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.18. The business had revenue of $37.35 billion during the quarter, compared to the consensus estimate of $36.70 billion. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. As a group, equities analysts expect that Cardinal Health will post 4.99 earnings per share for the current fiscal year.
About Cardinal Health
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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