Cardinal Health Inc. [NYSE: CAH] price plunged by -0.44 percent to reach at -$0.32. The company report on March 6, 2023 that Cardinal Health’s Outcomes™ collaborates with Signify Health to offer in-home medication therapy management.
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Cardinal Health (NYSE:CAH) today announced its collaboration with Signify Health (NYSE:SGFY) to offer in-home clinical and medication management services through its Outcomes™ business. This collaboration will help reduce costs and eliminate gaps in care for more than 2.3 million members nationwide to support their treatment journey from prescription to pharmacy to home.
Studies have shown that many members do not take their medications as prescribed. Bringing together Signify Health’s1 mobile network of 11,000+ credentialed clinicians with Outcomes’ industry leading OutcomesOne™ clinical care platform and omnichannel network of pharmacies and payers, this collaboration will help to address medication management challenges for health plan members by offering coordinated care from Signify Health clinicians who are also performing evaluations of those members in the home.
A sum of 2801456 shares traded at recent session while its average daily volume was at 2.67M shares. Cardinal Health Inc. shares reached a high of $73.26 and dropped to a low of $71.95 until finishing in the latest session at $72.65.
The one-year CAH stock forecast points to a potential upside of 15.51. The average equity rating for CAH stock is currently 2.60, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 1.47, 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 8.26 with Quick ratio for the last quarter at 0.50.
CAH Stock Performance Analysis:
Cardinal Health Inc. [CAH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.38. With this latest performance, CAH shares dropped by -5.69% in over the last four-week period, additionally plugging by 4.52% over the last 6 months – not to mention a rise of 38.57% 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 30.83, with the RSI for the last a single of trading hit 22.64, and the three-weeks RSI is set at 36.32 for Cardinal Health Inc. [CAH]. The present Moving Average for the last 50 days of trading for this stock 77.10, while it was recorded at 74.04 for the last single week of trading, and 69.09 for the last 200 days.
Insight into Cardinal Health Inc. Fundamentals:
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.
CAH Stock EPS
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%.
Cardinal Health Inc. [CAH] Insider Position Details
There are presently around $16,416 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 $2.14 billion in CAH stocks shares; and STATE STREET CORP, currently with $1.27 billion in CAH stock with ownership of nearly -13.781% of the company’s market capitalization.
457 institutional holders increased their position in Cardinal Health Inc. [NYSE:CAH] by around 18,955,582 shares. Additionally, 424 investors decreased positions by around 31,584,762 shares, while 127 investors held positions by with 175,414,641 shares. The mentioned changes placed institutional holdings at 225,954,985 shares, according to the latest SEC report filing. CAH stock had 165 new institutional investments in for a total of 3,243,839 shares, while 69 institutional investors sold positions of 2,625,009 shares during the same period.