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

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

CAH has been the topic of several other research reports. UBS Group increased their target price on Cardinal Health from $125.00 to $134.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Citigroup cut their target price on Cardinal Health from $115.00 to $107.00 and set a "neutral" rating on the stock in a research note on Friday, July 19th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an "underweight" rating in a report on Thursday, August 15th. Morgan Stanley raised their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the company an "overweight" rating in a report on Thursday, August 15th. Finally, Evercore ISI boosted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an "in-line" rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and a consensus price target of $120.18.

Cardinal Health Price Performance

Shares of CAH stock traded up $7.61 during mid-day trading on Friday, hitting $116.13. The stock had a trading volume of 3,876,405 shares, compared to its average volume of 1,607,760. Cardinal Health has a 12-month low of $91.14 and a 12-month high of $119.13. The firm's 50-day moving average is $111.75 and its two-hundred day moving average is $104.17. The firm has a market capitalization of $28.10 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 1.49 and a beta of 0.60.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.24. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share. Analysts expect that Cardinal Health will post 7.61 EPS for the current year.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares of the company's stock, valued at approximately $4,015,184.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares of the company's stock, valued at approximately $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,963 shares of company stock worth $12,379,980. Company insiders own 0.09% of the company's stock.

Institutional Trading of Cardinal Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company's stock valued at $36,010,000 after acquiring an additional 161,656 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Cardinal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company's stock valued at $35,160,000 after purchasing an additional 15,663 shares in the last quarter. Alpha Cubed Investments LLC purchased a new stake in shares of Cardinal Health during the third quarter worth $371,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Cardinal Health by 1.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company's stock valued at $44,016,000 after buying an additional 6,752 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Cardinal Health by 38.7% during the first quarter. Bessemer Group Inc. now owns 19,190 shares of the company's stock worth $2,148,000 after acquiring an additional 5,352 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

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.