Cardinal Health (NYSE:CAH) Upgraded to Equal Weight at Wells Fargo & Company

Cardinal Health (NYSE:CAH) was upgraded by analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued on Friday,Finviz reports. The firm currently has a $127.00 price target on the stock, up from their prior price target of $101.00. Wells Fargo & Company‘s price objective suggests a potential upside of 8.12% from the stock’s previous close.

CAH has been the topic of a number of other research reports. Morgan Stanley raised their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Robert W. Baird boosted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Barclays raised their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Mizuho started coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.75.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $117.46 on Friday. The firm has a market capitalization of $28.43 billion, a P/E ratio of 22.85, a PEG ratio of 1.47 and a beta of 0.61. Cardinal Health has a one year low of $93.17 and a one year high of $126.23. The company’s fifty day moving average is $117.00 and its two-hundred day moving average is $108.20.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. On average, sell-side analysts forecast that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eastern Bank acquired a new position in shares of Cardinal Health during the third quarter valued at approximately $25,000. Frazier Financial Advisors LLC increased its stake in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new position in Cardinal Health during the third quarter worth $31,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the second quarter worth about $29,000. 87.17% of the stock is currently owned by institutional investors.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.