Deutsche Bank initiated coverage on shares of Cardinal Health (NYSE:CAH) in a report issued on Thursday, BenzingaRatingsTable reports. The firm issued a hold rating and a $50.00 price objective on the stock.
A number of other research firms have also commented on CAH. Argus lowered shares of Cardinal Health from a buy rating to a hold rating in a research report on Tuesday, August 27th. Morgan Stanley dropped their price target on shares of Cardinal Health from $50.00 to $41.00 and set an underweight rating on the stock in a research report on Friday, September 6th. Finally, Guggenheim raised shares of Cardinal Health from a neutral rating to a buy rating and lifted their price target for the company from $50.00 to $52.00 in a research report on Tuesday, August 20th. Three equities 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’s stock. Cardinal Health currently has a consensus rating of Hold and an average target price of $53.25.
Shares of CAH opened at $48.22 on Thursday. The firm has a market cap of $14.45 billion, a PE ratio of 9.13, a PEG ratio of 1.61 and a beta of 1.29. The firm’s 50 day moving average price is $44.40 and its 200 day moving average price is $46.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 1.07. Cardinal Health has a twelve month low of $41.03 and a twelve month high of $58.31.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.18. The firm had revenue of $37.35 billion for the quarter, compared to analyst estimates of $36.70 billion. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 earnings per share. On average, sell-side analysts anticipate that Cardinal Health will post 4.99 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in CAH. Swedbank acquired a new stake in shares of Cardinal Health in the second quarter worth $106,911,000. Invesco Ltd. grew its stake in shares of Cardinal Health by 28.5% in the second quarter. Invesco Ltd. now owns 8,150,786 shares of the company’s stock worth $383,901,000 after acquiring an additional 1,808,381 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Cardinal Health by 236.2% in the second quarter. Nuveen Asset Management LLC now owns 2,044,496 shares of the company’s stock worth $96,296,000 after acquiring an additional 1,436,412 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cardinal Health by 41.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,447,058 shares of the company’s stock worth $109,144,000 after acquiring an additional 720,871 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of Cardinal Health by 300.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 842,710 shares of the company’s stock worth $40,498,000 after acquiring an additional 632,279 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.
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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