Wall Street Zen Downgrades Cardinal Health (NYSE:CAH) to Buy

Cardinal Health (NYSE:CAH) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on CAH. Bank of America raised their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Barclays increased their price objective on shares of Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Citigroup raised their target price on shares of Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Robert W. Baird lifted their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $266.56.

Cardinal Health Trading Down 0.2%

CAH stock opened at $224.95 on Friday. The stock’s 50 day simple moving average is $233.74 and its 200 day simple moving average is $219.79. Cardinal Health has a 12-month low of $145.87 and a 12-month high of $258.30. The stock has a market capitalization of $52.32 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, research analysts predict that Cardinal Health will post 12.55 earnings per share for the current year.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 29,436 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the sale, the insider directly owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen M. Mason sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the transaction, the chief executive officer owned 18,061 shares in the company, valued at $4,269,620.40. The trade was a 65.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 in the last 90 days. 0.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in Cardinal Health during the 2nd quarter worth approximately $308,640,000. First Nebraska Trust Co bought a new position in shares of Cardinal Health in the second quarter worth approximately $20,050,000. Castlekeep Investment Advisors LLC bought a new position in shares of Cardinal Health in the second quarter worth approximately $1,177,000. Stack Financial Management Inc purchased a new stake in shares of Cardinal Health in the second quarter worth $24,681,000. Finally, NewEdge Advisors LLC raised its position in shares of Cardinal Health by 52.9% during the 1st quarter. NewEdge Advisors LLC now owns 33,939 shares of the company’s stock valued at $7,172,000 after purchasing an additional 11,740 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.