Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, Argus Analyst Says

Cardinal Health (NYSE:CAH) had its price target boosted by investment analysts at Argus from $232.00 to $248.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the stock. Argus’ price objective would suggest a potential upside of 15.12% from the stock’s previous close.

CAH has been the subject of several other research reports. Wells Fargo & Company raised their price target on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday. Leerink Partners lifted their target price on shares of Cardinal Health from $240.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Mizuho boosted their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Evercore ISI raised their price target on shares of Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. Finally, Morgan Stanley set a $255.00 price objective on shares of Cardinal Health in a report on Friday, February 6th. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.19.

Cardinal Health Trading Down 3.9%

NYSE CAH opened at $215.43 on Wednesday. The firm’s fifty day simple moving average is $208.41 and its two-hundred day simple moving average is $181.75. Cardinal Health has a 12-month low of $120.72 and a 12-month high of $230.81. The firm has a market capitalization of $50.69 billion, a P/E ratio of 31.00, a P/E/G ratio of 1.45 and a beta of 0.64.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Aventura Private Wealth LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Cardinal Health in the 4th quarter valued at about $27,000. Palladiem LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at about $28,000. SJS Investment Consulting Inc. boosted its stake in shares of Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in Cardinal Health during the fourth quarter worth about $34,000. 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.