Cardinal Health Inc. [NYSE: CAH] slipped around -1.7 points on Tuesday, while shares priced at $75.71 at the close of the session, down -2.20%. The company report on February 22, 2023 that New Cardinal Health report examines shifts in biosimilars industry.
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Study reveals provider perceptions of commercially available biosimilars and anticipated launches, which have the potential to increase equitable access to critical treatments .
Today, Cardinal Health (NYSE: CAH) released its 2023 Biosimilars Report: Tracking market expansion and sustainability amidst a shifting industry, a publication that highlights provider perceptions, utilization and the latest market trends of biosimilars. The report assesses new and changing perspectives regarding some of the most disruptive biosimilars launched in the areas of immunology and ophthalmology, noting a growing familiarity of the medications among rheumatologists with 76% reporting being very familiar with the products, a 43% jump year-over-year. The research also reports high familiarity among gastroenterologists (81%) compared to ophthalmologists (33%) and dermatologists (31%).
Cardinal Health Inc. stock is now -1.51% down from its year-to-date (YTD) trading value. CAH Stock saw the intraday high of $77.02 and lowest of $75.67 per share. The company’s 52-week high price is 81.57, which means current price is +2.50% above from all time high which was touched on 02/03/23.
Compared to the average trading volume of 2.73M shares, CAH reached a trading volume of 5298543 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Cardinal Health Inc. [CAH]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CAH shares is $85.99 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CAH stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Robert W. Baird have made an estimate for Cardinal Health Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 03, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $64 to $80. The new note on the price target was released on November 04, 2022, representing the official price target for Cardinal Health Inc. stock. Previously, the target price had yet another raise from $70 to $76, while Morgan Stanley kept a Overweight rating on CAH stock.
The Average True Range (ATR) for Cardinal Health Inc. is set at 1.51, with the Price to Sales ratio for CAH stock in the period of the last 12 months amounting to 0.10. Price to Free Cash Flow for CAH in the course of the last twelve months was 8.68 with Quick ratio for the last quarter at 0.50.
How has CAH stock performed recently?
Cardinal Health Inc. [CAH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.15. With this latest performance, CAH shares dropped by -1.01% in over the last four-week period, additionally plugging by 12.00% over the last 6 months – not to mention a rise of 39.69% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CAH stock in for the last two-week period is set at 39.88, with the RSI for the last a single of trading hit 32.38, and the three-weeks RSI is set at 43.65 for Cardinal Health Inc. [CAH]. The present Moving Average for the last 50 days of trading for this stock 77.72, while it was recorded at 77.18 for the last single week of trading, and 68.53 for the last 200 days.
Cardinal Health Inc. [CAH]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Cardinal Health Inc. [CAH] shares currently have an operating margin of +0.92 and a Gross Margin at +3.44. Cardinal Health Inc.’s Net Margin is presently recorded at -0.51.
Return on Equity for this stock declined to -172.46, with Return on Assets sitting at -2.11.
Cardinal Health Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 1.00.
Earnings analysis for Cardinal Health Inc. [CAH]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CAH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cardinal Health Inc. go to 11.85%.
Insider trade positions for Cardinal Health Inc. [CAH]
There are presently around $17,108 million, or 93.00% of CAH stock, in the hands of institutional investors. The top three institutional holders of CAH stocks are: VANGUARD GROUP INC with ownership of 31,320,204, which is approximately -2.586% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 29,507,924 shares of the stock with an approximate value of $2.23 billion in CAH stocks shares; and STATE STREET CORP, currently with $1.33 billion in CAH stock with ownership of nearly -13.781% of the company’s market capitalization.
Positions in Cardinal Health Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 459 institutional holders increased their position in Cardinal Health Inc. [NYSE:CAH] by around 18,961,900 shares. Additionally, 422 investors decreased positions by around 31,559,435 shares, while 127 investors held positions by with 175,449,034 shares. The mentioned changes placed institutional holdings at 225,970,369 shares, according to the latest SEC report filing. CAH stock had 166 new institutional investments in for a total of 3,244,990 shares, while 68 institutional investors sold positions of 2,615,273 shares during the same period.