CAH Stock Summary and Trading Ideas (Cardinal Health | NYSE:CAH)

Cardinal Health is one of three leading pharmaceutical wholesalers in the U.S., engaged in sourcing and distributing of branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers. Along with Cencora and McKesson, the three comprise well over 90% of the U.S. pharmaceutical wholesale industry. Cardinal Health also supplies medical-surgical products and equipment to healthcare facilities in North America, Europe, and Asia.

Cardinal Health trades on the NYSE stock market under the symbol CAH.

As of April 19, 2024, CAH stock price climbed to $108.11 with 783,770 million shares trading.

CAH has a beta of 0.69, meaning it tends to be less sensitive to market movements. CAH has a correlation of 0.15 to the broad based SPY ETF.

CAH has a market cap of $26.63 billion. This is considered a Large Cap stock.

Last quarter Cardinal Health reported $57 billion in Revenue and $1.82 earnings per share. This beat revenue expectation by $435 million and exceeded earnings estimates by $.22.

In the last 3 years, CAH stock traded as high as $116.04 and as low as $45.85.

The top ETF exchange traded funds that CAH belongs to (by Net Assets): VTI, VOO, VO, COWZ, SPY.

CAH has outperformed the market in the last year with a price return of +38.6% while the SPY ETF gained +20.9%. However, in the short term, CAH had mixed performance relative to the market. It has underperformed in the last 3 months, returning +2.1% vs +4.1% return in SPY. But in the last 2 weeks, CAH shares have fared better than the market returning -1.8% compared to SPY -3.7%.

CAH support price is $104.79 and resistance is $107.21 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CAH stock will trade within this expected range on the day.