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

Cardinal Health (NYSE:CAH - Get Free Report) was upgraded by equities researchers at Wells Fargo & Company from an "underweight" rating to an "equal weight" rating in a note issued to investors on Friday, Marketbeat reports. The brokerage currently has a $127.00 price target on the stock, up from their previous price target of $101.00. Wells Fargo & Company's price target would suggest a potential upside of 7.87% from the company's current price.

CAH has been the subject of several other reports. UBS Group upped their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target 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 price target on Cardinal Health from $130.00 to $137.00 and gave the stock an "outperform" rating in a research note on Thursday, August 15th. StockNews.com lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 3rd. Finally, Mizuho initiated coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $126.75.

Cardinal Health Trading Up 0.2 %

Shares of NYSE CAH traded up $0.27 during trading hours on Friday, hitting $117.73. 751,765 shares of the company traded hands, compared to its average volume of 2,097,968. The company's 50 day moving average price is $117.00 and its 200 day moving average price is $108.20. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $126.23. The stock has a market capitalization of $28.49 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts anticipate that Cardinal Health will post 7.82 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company's stock worth $162,976,000 after purchasing an additional 33,388 shares during the period. Alpha Cubed Investments LLC acquired a new stake in shares of Cardinal Health in the third quarter valued at approximately $371,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cardinal Health in the 3rd quarter valued at $1,691,000. National Wealth Management Group LLC acquired a new position in Cardinal Health in the third quarter valued at $903,000. Finally, Cerity Partners LLC grew its holdings in Cardinal Health by 35.9% in the 3rd quarter. Cerity Partners LLC now owns 32,964 shares of the company's stock valued at $3,643,000 after buying an additional 8,707 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Company Profile

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.