The stock of Cardinal Health Inc (NYSE:CAH) hit a new 52-week low and has $60.43 target or 6.00% below today’s $64.29 share price. The 7 months bearish chart indicates high risk for the $20.30B company. The 1-year low was reported on Nov, 8 by Barchart.com. If the $60.43 price target is reached, the company will be worth $1.22B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.13 million shares traded hands. Cardinal Health Inc (NYSE:CAH) has declined 19.85% since April 5, 2016 and is downtrending. It has underperformed by 21.81% the S&P500.
Cardinal Health Inc (NYSE:CAH) Ratings Coverage
Out of 10 analysts covering Cardinal Health (NYSE:CAH), 3 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 30% are positive. Cardinal Health has been the topic of 19 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, November 3 by RBC Capital Markets. As per Thursday, October 6, the company rating was initiated by UBS. The stock of Cardinal Health Inc (NYSE:CAH) earned “Buy” rating by UBS on Tuesday, November 3. Robert W. Baird downgraded it to “Neutral” rating and $82 target price in Friday, October 28 report. The rating was downgraded by Zacks to “Buy” on Monday, August 10. Cowen & Co downgraded Cardinal Health Inc (NYSE:CAH) on Tuesday, March 15 to “Market Perform” rating. The firm has “Market Perform” rating by Raymond James given on Wednesday, January 6. The stock has “Outperform” rating given by FBR Capital on Tuesday, November 3. Goldman Sachs upgraded the stock to “Conviction Buy” rating in Monday, March 7 report. The firm earned “Neutral” rating on Friday, September 16 by Goldman Sachs.
According to Zacks Investment Research, “Cardinal Health, Inc. is one of the leading providers of products and services to healthcare providers and manufacturers to help them improve the efficiency and quality of healthcare. These services and products include Pharmaceutical Distribution and Provider Services, Medical-Surgical Products and Services, Pharmaceutical Technologies and Services and Automation and Information Services.”
Insitutional Activity: The institutional sentiment decreased to 0.98 in 2016 Q2. Its down 0.04, from 1.02 in 2016Q1. The ratio dropped, as 60 funds sold all Cardinal Health Inc shares owned while 267 reduced positions. 56 funds bought stakes while 263 increased positions. They now own 267.07 million shares or 3.37% less from 276.39 million shares in 2016Q1.
Stifel Fincl owns 182,102 shares or 0.07% of their US portfolio. Legal & General Group Public Limited Company owns 1.75 million shares or 0.14% of their US portfolio. The Georgia-based Herndon Management Ltd Company has invested 0.02% in Cardinal Health Inc (NYSE:CAH). Envestnet Asset Mgmt Inc holds 0.01% or 46,547 shares in its portfolio. Amica Mutual Insur last reported 20,940 shares in the company. Guggenheim Cap Llc last reported 0.16% of its portfolio in the stock. Rothschild Il holds 0.07% or 7,079 shares in its portfolio. Cornercap Invest Counsel, a Georgia-based fund reported 14,965 shares. Amica Retiree Tru accumulated 0.21% or 3,099 shares. Bridgewater Limited Partnership accumulated 0.14% or 143,581 shares. Catalyst Cap Advisors Limited Company has 1.38% invested in the company for 96,000 shares. Nordea Invest Mngmt Ab, a Sweden-based fund reported 1.60M shares. Murphy Cap Mngmt Incorporated has invested 0.04% of its portfolio in Cardinal Health Inc (NYSE:CAH). Lpl Fincl Lc has 6,746 shares for 0% of their US portfolio. Tci Wealth Advsrs accumulated 0% or 10 shares.
Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 7 selling transactions for $41.79 million net activity. Barrett George S also sold $20.91M worth of Cardinal Health Inc (NYSE:CAH) on Monday, August 8. 47,251 Cardinal Health Inc (NYSE:CAH) shares with value of $3.91M were sold by Giacomin Jon L. Shares for $1.06M were sold by Morford Craig S on Thursday, August 11. The insider LAWS STUART G sold $800,012. WATKINS CAROLE S also sold $6.54 million worth of Cardinal Health Inc (NYSE:CAH) shares. MORRISON PATRICIA also sold $3.63 million worth of Cardinal Health Inc (NYSE:CAH) shares. Casey Donald M Jr. had sold 59,180 shares worth $4.95M.
More notable recent Cardinal Health Inc (NYSE:CAH) news were published by: Wsj.com which released: “Cardinal Health Cuts Profit Guidance” on October 31, 2016, also Forbes.com with their article: “Cardinal Health Enters Oversold Territory” published on October 28, 2016, Seekingalpha.com published: “Dividend Aristocrats In Focus Part 27: Cardinal Health” on November 04, 2016. More interesting news about Cardinal Health Inc (NYSE:CAH) were released by: Prnewswire.com and their article: “Cardinal Health Reports First-quarter Results for Fiscal Year 2017” published on October 31, 2016 as well as Marketwatch.com‘s news article titled: “Cardinal Health beats profit expectations but cuts outlook” with publication date: October 31, 2016.
CAH Company Profile
Cardinal Health, Inc. is a healthcare services and products company. The Firm operates through two divisions: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies. The Medical segment distributes a range of medical, surgical and laboratory products, and provides services to hospitals, ambulatory surgery centers, clinical laboratories and other healthcare providers. This segment also makes, sources and develops its own Cardinal Health brand medical and surgical products. It provides post-acute care management and transition services, and software to hospitals.
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