Deutsche Bank Initiates Coverage on Cardinal Health (NYSE:CAH)

Deutsche Bank started coverage on shares of Cardinal Health (NYSE:CAH) in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage issued a hold rating and a $50.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Morgan Stanley dropped their target price on shares of Cardinal Health from $50.00 to $41.00 and set an underweight rating on the stock in a report on Friday, September 6th. Argus cut shares of Cardinal Health from a buy rating to a hold rating in a report on Tuesday, August 27th. Finally, Guggenheim raised shares of Cardinal Health from a neutral rating to a buy rating and increased their price objective for the stock from $50.00 to $52.00 in a report on Tuesday, August 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Cardinal Health presently has a consensus rating of Hold and a consensus price target of $53.25.

Shares of NYSE:CAH opened at $48.22 on Thursday. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29. Cardinal Health has a 1-year low of $41.03 and a 1-year high of $58.31. The company’s fifty day moving average is $44.40 and its two-hundred day moving average is $46.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 1.07.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, August 8th. The company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.18. The company had revenue of $37.35 billion for the quarter, compared to analysts’ expectations of $36.70 billion. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. Sell-side analysts expect that Cardinal Health will post 4.99 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group increased its holdings in shares of Cardinal Health by 19.0% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,912 shares of the company’s stock worth $90,000 after acquiring an additional 305 shares during the period. Toronto Dominion Bank increased its holdings in shares of Cardinal Health by 1.9% in the 2nd quarter. Toronto Dominion Bank now owns 211,101 shares of the company’s stock worth $9,940,000 after acquiring an additional 4,017 shares during the period. Mackenzie Financial Corp increased its stake in Cardinal Health by 6.0% during the 2nd quarter. Mackenzie Financial Corp now owns 113,193 shares of the company’s stock valued at $5,331,000 after buying an additional 6,398 shares during the period. Transamerica Financial Advisors Inc. acquired a new position in Cardinal Health during the 2nd quarter valued at about $124,000. Finally, Phocas Financial Corp. acquired a new position in Cardinal Health during the 2nd quarter valued at about $44,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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