Stock analysts at StockNews.com assumed coverage on shares of Cardinal Health (NYSE:CAH – Get Rating) in a research note issued on Thursday. The brokerage set a “strong-buy” rating on the stock.
Several other equities research analysts have also weighed in on CAH. UBS Group raised their target price on Cardinal Health from $78.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Credit Suisse Group raised their target price on Cardinal Health from $89.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, February 3rd. Robert W. Baird raised Cardinal Health from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $87.00 to $94.00 in a research report on Friday, February 3rd. Finally, Morgan Stanley raised their target price on Cardinal Health from $86.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $80.64.
Cardinal Health Trading Down 1.3 %
CAH opened at $69.82 on Thursday. The stock’s 50-day moving average price is $76.49 and its 200 day moving average price is $74.91. Cardinal Health has a 12-month low of $49.70 and a 12-month high of $81.57. The firm has a market cap of $17.99 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.14 and a beta of 0.76.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. grew its stake in shares of Cardinal Health by 53.6% in the 1st quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock valued at $1,452,000 after purchasing an additional 8,935 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Cardinal Health by 4.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,071 shares of the company’s stock worth $2,102,000 after purchasing an additional 1,702 shares during the last quarter. Cibc World Market Inc. acquired a new position in shares of Cardinal Health in the first quarter worth $212,000. Blair William & Co. IL raised its holdings in shares of Cardinal Health by 6.7% in the first quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock worth $667,000 after acquiring an additional 734 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Cardinal Health by 6.4% in the first quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock worth $26,792,000 after acquiring an additional 28,568 shares during the last quarter. Hedge funds and other institutional investors own 88.93% of the company’s stock.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.
- Get a free copy of the StockNews.com research report on Cardinal Health (CAH)
- Meta Platforms: Efficiency Gains Momentum, Stock Accelerates
- Pfizer’s Latest Acquisition Strengthens the Case for PFE Stock
- SentinelOne: Reversal In-Play For Cybersecurity Stocks
- Is Sportradar Group A Growth Stock To Bet On In 2023?
- Strong Guidance says Boeing is Ready for Takeoff
Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.