Evercore Issues Pessimistic Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its price target dropped by equities researchers at Evercore from $260.00 to $240.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the stock. Evercore’s price objective would suggest a potential upside of 11.08% from the stock’s current price.

CAH has been the topic of several other reports. Wells Fargo & Company increased their price objective on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $190.00 to $244.00 in a research report on Friday, January 9th. Morgan Stanley set a $255.00 price objective on shares of Cardinal Health in a research report on Friday, February 6th. Argus increased their price objective on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $244.33.

Cardinal Health Price Performance

Shares of CAH stock opened at $216.06 on Wednesday. The stock has a market cap of $50.84 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.39 and a beta of 0.64. The company has a fifty day moving average price of $217.83 and a two-hundred day moving average price of $200.02. Cardinal Health has a one year low of $124.73 and a one year high of $233.60.

Cardinal Health (NYSE:CAH) last announced its quarterly 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 firm 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 company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 earnings per share. As a group, equities research analysts anticipate that Cardinal Health will post 7.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds have recently bought and sold shares of the business. Stance Capital LLC increased its position in Cardinal Health by 9.1% during the fourth quarter. Stance Capital LLC now owns 20,213 shares of the company’s stock worth $4,154,000 after acquiring an additional 1,692 shares during the period. World Investment Advisors increased its position in Cardinal Health by 42.2% during the fourth quarter. World Investment Advisors now owns 7,412 shares of the company’s stock worth $1,523,000 after acquiring an additional 2,200 shares during the period. Corient Private Wealth LLC increased its position in Cardinal Health by 5.7% during the fourth quarter. Corient Private Wealth LLC now owns 86,229 shares of the company’s stock worth $17,722,000 after acquiring an additional 4,636 shares during the period. SHP Wealth Management bought a new position in Cardinal Health during the fourth quarter worth about $128,000. Finally, Reflection Asset Management bought a new position in Cardinal Health during the fourth quarter worth about $47,000. 87.17% of the stock is owned by 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.