TD Cowen Boosts Cardinal Health (NYSE:CAH) Price Target to $251.00

Cardinal Health (NYSE:CAH) had its price target hoisted by research analysts at TD Cowen from $233.00 to $251.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 16.51% from the stock’s current price.

Several other analysts have also issued reports on the company. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. UBS Group set a $260.00 price objective on Cardinal Health and gave the company a “buy” rating in a research note on Friday, February 6th. Barclays assumed coverage on shares of Cardinal Health in a report on Monday, December 8th. They issued an “overweight” rating and a $243.00 target price for the company. Robert W. Baird set a $252.00 price target on shares of Cardinal Health in a report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, November 18th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $245.19.

Cardinal Health Stock Down 3.9%

Shares of NYSE:CAH opened at $215.43 on Wednesday. The stock has a market capitalization of $50.69 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64. The firm’s 50 day moving average price is $208.41 and its 200-day moving average price is $181.75. Cardinal Health has a twelve month low of $120.72 and a twelve month high of $230.81.

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

Hedge Funds Weigh In On Cardinal Health

Several institutional investors have recently bought and sold shares of CAH. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Cardinal Health by 0.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock valued at $1,902,000 after purchasing an additional 48 shares during the last quarter. HF Advisory Group LLC lifted its position in shares of Cardinal Health by 0.9% in the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock worth $1,074,000 after buying an additional 49 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in Cardinal Health by 0.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock valued at $1,184,000 after buying an additional 50 shares during the last quarter. Generali Asset Management SPA SGR grew its holdings in Cardinal Health by 11.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock valued at $105,000 after buying an additional 51 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in Cardinal Health by 0.9% in the 4th quarter. Stephens Inc. AR now owns 5,951 shares of the company’s stock worth $1,223,000 after acquiring an additional 52 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

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.