JPMorgan Chase & Co. Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its target price increased by JPMorgan Chase & Co. from $209.00 to $243.00 in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have a neutral rating on the stock.

CAH has been the subject of a number of other reports. Mizuho lifted their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a report on Tuesday, November 18th. Jefferies Financial Group lifted their price target on Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Robert W. Baird set a $252.00 price objective on Cardinal Health in a report on Friday. Finally, Leerink Partners raised their target price on Cardinal Health from $240.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $242.56.

Cardinal Health Stock Performance

CAH stock opened at $220.51 on Tuesday. The stock has a fifty day moving average of $207.59 and a 200-day moving average of $181.21. Cardinal Health has a fifty-two week low of $120.72 and a fifty-two week high of $230.81. The company has a market capitalization of $51.89 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 1.46 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.93 EPS. Equities analysts predict that Cardinal Health will post 7.95 EPS for the current year.

Institutional Trading of Cardinal Health

Several institutional investors and hedge funds have recently modified their holdings of CAH. SJS Investment Consulting Inc. raised its stake in Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in Cardinal Health in the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp increased its holdings in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the last quarter. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Cardinal Health by 75.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock worth $29,000 after buying an additional 75 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.