Robert W. Baird Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price target raised by analysts at Robert W. Baird from $197.00 to $203.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 34.99% from the company’s current price.

Several other analysts also recently commented on the stock. Morgan Stanley reissued an “overweight” rating on shares of Cardinal Health in a research report on Tuesday. Leerink Partners set a $186.00 target price on shares of Cardinal Health and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup restated a “neutral” rating and issued a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.20.

Cardinal Health Stock Up 1.5%

CAH stock opened at $150.38 on Wednesday. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 1.44 and a beta of 0.67. Cardinal Health has a 12 month low of $105.01 and a 12 month high of $168.44. The firm has a 50 day moving average of $159.73 and a two-hundred day moving average of $144.34.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. The company had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. On average, research analysts expect that Cardinal Health will post 7.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds have recently added to or reduced their stakes in CAH. Atlantic Edge Private Wealth Management LLC lifted its position in Cardinal Health by 75.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after purchasing an additional 75 shares during the period. Greykasell Wealth Strategies Inc. acquired a new position in Cardinal Health during the 1st quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC lifted its position in Cardinal Health by 55.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 71 shares during the period. NewSquare Capital LLC lifted its position in Cardinal Health by 100.0% during the 2nd quarter. NewSquare Capital LLC now owns 214 shares of the company’s stock valued at $36,000 after purchasing an additional 107 shares during the period. Finally, AlphaCore Capital LLC acquired a new position in Cardinal Health during the 2nd quarter valued at about $41,000. Institutional investors own 87.17% of the company’s stock.

About Cardinal Health

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.