Cardinal Health (CAH) : Traders are bullish on Cardinal Health (CAH) as it has outperformed the S&P 500 by a wide margin of 3.31% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.8%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.74% in the last 1 week, and is up 6.78% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.44% and the 50-Day Moving Average is 5.88%. Cardinal Health, Inc. is up 7.19% in the last 3-month period. Year-to-Date the stock performance stands at -5.34%.
Cardinal Health (NYSE:CAH): stock turned positive on Friday. Though the stock opened at $82.6, the bulls momentum made the stock top out at $83.74 level for the day. The stock recorded a low of $82.45 and closed the trading day at $83.6, in the green by 1.26%. The total traded volume for the day was 2,727,090. The stock had closed at $82.56 in the previous days trading.
Also, Equity Analysts at the Bank of America reinstates the rating on Cardinal Health (NYSE:CAH). The brokerage firm has issued a Neutral rating on the shares. The rating by the firm was issued on June 7, 2016.
Cardinal Health, Inc. is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States, the Companys Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers, hospitals and other healthcare providers. In China, the Pharmaceutical segment distributes branded, generic and specialty pharmaceutical, over-the-counter healthcare and consumer products, provides logistics, marketing and other services and operates direct-to-patient specialty pharmacies through Cardinal Health China. 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.