Mizuho Begins Coverage on Cardinal Health (NYSE:CAH)

Analysts at Mizuho started coverage on shares of Cardinal Health (NYSE:CAH) in a research note issued on Wednesday, MarketBeat.com reports. The firm set an “outperform” rating and a $139.00 price target on the stock. Mizuho’s price target points to a potential upside of 13.16% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley increased their price objective on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Barclays boosted their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Evercore ISI raised their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Finally, Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned 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 $124.58.

Cardinal Health Trading Down 1.9 %

Shares of Cardinal Health stock opened at $122.84 on Wednesday. The company has a market cap of $29.73 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.54 and a beta of 0.61. The stock has a 50-day moving average price of $115.76 and a 200 day moving average price of $107.28. Cardinal Health has a 1 year low of $93.17 and a 1 year high of $126.23.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, equities analysts forecast that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAH. Paragon Capital Management Inc. grew its holdings in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after purchasing an additional 99 shares during the last quarter. Midland Wealth Advisors LLC grew its position in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC raised its stake in Cardinal Health by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after purchasing an additional 100 shares in the last quarter. Finally, Huntington National Bank grew its holdings in Cardinal Health by 0.9% during the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after buying an additional 100 shares in the last quarter. 87.17% of the stock is 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.