Leerink Partners Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its target price increased by investment analysts at Leerink Partners from $268.00 to $275.00 in a report released on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners’ price objective points to a potential upside of 21.43% from the company’s current price.

CAH has been the subject of several other research reports. Wells Fargo & Company lifted their price objective on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Jefferies Financial Group lifted their price target on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Evercore raised their price objective on shares of Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. Morgan Stanley set a $255.00 price objective on shares of Cardinal Health in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. increased their target price on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Stock Performance

NYSE CAH opened at $226.46 on Monday. The business has a fifty day moving average price of $214.97 and a 200 day moving average price of $188.60. The company has a market cap of $53.29 billion, a P/E ratio of 32.58, a P/E/G ratio of 1.48 and a beta of 0.65. Cardinal Health has a one year low of $120.72 and a one year high of $233.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The company had revenue of $65.63 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. As a group, sell-side analysts predict that Cardinal Health will post 7.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

A number of large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC grew its position in Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after buying an additional 280 shares during the period. Jones Financial Companies Lllp grew 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 acquiring an additional 14,034 shares during the period. Hantz Financial Services Inc. increased its stake in Cardinal Health by 44.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 307 shares of the company’s stock valued at $52,000 after purchasing an additional 95 shares in the last quarter. Strs Ohio raised its holdings in Cardinal Health by 10.7% during the second quarter. Strs Ohio now owns 21,308 shares of the company’s stock worth $3,580,000 after purchasing an additional 2,058 shares during the last quarter. Finally, Simon Quick Advisors LLC purchased a new stake in Cardinal Health during the second quarter worth $266,000. 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.