Cardinal Health (NYSE:CAH) Downgraded by StockNews.com to Buy

Cardinal Health (NYSE:CAH - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

CAH has been the topic of several other research reports. UBS Group upped their price objective on Cardinal Health from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Robert W. Baird upped their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the company a "hold" rating in a research report on Friday, August 16th. Morgan Stanley upped their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an "overweight" rating in a research report on Thursday, August 15th. Finally, Evercore ISI upped their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an "in-line" rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus target price of $119.36.

Cardinal Health Stock Up 1.7 %

Shares of NYSE:CAH traded up $1.92 on Wednesday, reaching $114.54. The company had a trading volume of 1,372,439 shares, compared to its average volume of 2,101,151. Cardinal Health has a twelve month low of $90.19 and a twelve month high of $116.05. The stock has a 50-day moving average price of $109.30 and a 200 day moving average price of $103.92. The stock has a market capitalization of $27.90 billion, a P/E ratio of 50.91, a P/E/G ratio of 1.33 and a beta of 0.60.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 earnings per share. On average, sell-side analysts predict that Cardinal Health will post 7.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares of the company's stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares of the company's stock, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason M. Hollar sold 26,716 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 in the last three months. 0.15% of the stock is currently owned by company insiders.

Institutional Trading of Cardinal Health

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health in the second quarter worth $27,000. Raleigh Capital Management Inc. grew its stake in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company's stock worth $28,000 after purchasing an additional 268 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health in the second quarter worth $29,000. LRI Investments LLC bought a new stake in shares of Cardinal Health in the first quarter worth $32,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Cardinal Health in the first quarter worth $34,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.