Cardinal Health (NYSE:CAH) Price Target Cut to $105.00

Cardinal Health (NYSE:CAHGet Free Report) had its target price cut by analysts at Evercore ISI from $115.00 to $105.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price target indicates a potential upside of 9.84% from the company’s current price.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Robert W. Baird raised their price objective on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday. Argus dropped their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Wells Fargo & Company dropped their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $109.00.

View Our Latest Research Report on CAH

Cardinal Health Price Performance

CAH opened at $95.59 on Tuesday. The business has a 50 day simple moving average of $98.78 and a 200-day simple moving average of $104.19. The stock has a market capitalization of $23.28 billion, a P/E ratio of 42.48, a P/E/G ratio of 1.07 and a beta of 0.61. Cardinal Health has a 12 month low of $85.11 and a 12 month high of $116.04.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $1.74 EPS. Research analysts anticipate that Cardinal Health will post 7.35 EPS for the current year.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently made changes to their positions in CAH. CWM LLC boosted its holdings in Cardinal Health by 2.8% in the second quarter. CWM LLC now owns 12,500 shares of the company’s stock valued at $1,229,000 after acquiring an additional 345 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Cardinal Health by 168.5% in the second quarter. Park Avenue Securities LLC now owns 17,657 shares of the company’s stock valued at $1,736,000 after acquiring an additional 11,082 shares during the last quarter. New England Research & Management Inc. acquired a new position in Cardinal Health in the second quarter valued at $396,000. Mather Group LLC. boosted its holdings in Cardinal Health by 20.7% in the second quarter. Mather Group LLC. now owns 6,685 shares of the company’s stock valued at $657,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Burns Matteson Capital Management LLC acquired a new position in Cardinal Health in the second quarter valued at $313,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

(Get Free Report)

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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