Cardinal Health (NYSE:CAH) Coverage Initiated at Barclays

Research analysts at Barclays assumed coverage on shares of Cardinal Health (NYSE:CAH) in a note issued to investors on Monday, Marketbeat.com reports. The firm set an “overweight” rating and a $243.00 price target on the stock. Barclays‘s price objective would suggest a potential upside of 22.07% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird set a $232.00 price objective on shares of Cardinal Health in a research note on Friday, October 31st. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, October 8th. Leerink Partners upped their price target on Cardinal Health from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, November 17th. Finally, Jefferies Financial Group set a $220.00 price objective on Cardinal Health and gave the company a “buy” rating in a research note on Monday, November 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.00.

Cardinal Health Stock Up 0.5%

Shares of NYSE CAH traded up $1.06 during trading on Monday, reaching $199.06. 109,882 shares of the company traded hands, compared to its average volume of 2,424,517. The firm has a 50 day simple moving average of $184.29 and a 200-day simple moving average of $165.86. Cardinal Health has a 52-week low of $114.60 and a 52-week high of $214.93. The stock has a market capitalization of $47.30 billion, a PE ratio of 30.00, a P/E/G ratio of 1.45 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The business had revenue of $64.01 billion during the quarter, compared to analyst estimates of $59.41 billion. During the same period in the previous year, the business earned $1.88 EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, research analysts predict that Cardinal Health will post 7.95 EPS for the current year.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds have recently added to or reduced their stakes in CAH. Counterpoint Mutual Funds LLC acquired a new position in shares of Cardinal Health in the 2nd quarter valued at about $1,911,000. Atlantic Union Bankshares Corp purchased a new position in shares of Cardinal Health during the 2nd quarter valued at approximately $79,000. Marshall Wace LLP increased its holdings in shares of Cardinal Health by 19.1% during the 2nd quarter. Marshall Wace LLP now owns 1,930,967 shares of the company’s stock valued at $324,402,000 after purchasing an additional 309,335 shares in the last quarter. KLP Kapitalforvaltning AS lifted its stake in shares of Cardinal Health by 4.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 114,198 shares of the company’s stock valued at $19,185,000 after purchasing an additional 4,400 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Cardinal Health by 92.5% during the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after buying an additional 807,063 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

About Cardinal Health

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.