Cardinal Health (NYSE:CAH) Price Target Raised to $130.00

Cardinal Health (NYSE:CAHGet Free Report) had its price target raised by Robert W. Baird from $129.00 to $130.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 34.19% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Argus reduced their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Evercore ISI upped their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Wells Fargo & Company reduced their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $109.83.

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Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $96.88 on Tuesday. Cardinal Health has a fifty-two week low of $85.11 and a fifty-two week high of $116.04. The business has a 50-day simple moving average of $99.06 and a two-hundred day simple moving average of $104.29. The firm has a market cap of $23.60 billion, a price-to-earnings ratio of 43.06, a price-to-earnings-growth ratio of 1.06 and a beta of 0.61.

Cardinal Health (NYSE:CAHGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. During the same quarter in the previous year, the firm earned $1.74 EPS. Cardinal Health’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts predict that Cardinal Health will post 7.35 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC bought a new position in Cardinal Health in the 4th quarter worth approximately $209,000. Mather Group LLC. raised its holdings in shares of Cardinal Health by 2.5% during the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after acquiring an additional 164 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Cardinal Health by 86.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after acquiring an additional 32,250 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Cardinal Health by 50.5% during the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock worth $18,649,000 after acquiring an additional 61,933 shares in the last quarter. Finally, Vest Financial LLC raised its holdings in shares of Cardinal Health by 15.9% during the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after acquiring an additional 38,769 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Company Profile

(Get Free Report)

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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