Cardinal Health, Inc. (NYSE:CAH) Receives $224.73 Average Target Price from Analysts

Cardinal Health, Inc. (NYSE:CAH) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $230.4286.

A number of equities research analysts have issued reports on CAH shares. Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. Wells Fargo & Company lifted their price objective on Cardinal Health from $221.00 to $237.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Leerink Partners set a $240.00 target price on shares of Cardinal Health in a research report on Tuesday, January 13th. Barclays began coverage on shares of Cardinal Health in a report on Monday, December 8th. They issued an “overweight” rating and a $243.00 price target on the stock. Finally, Robert W. Baird set a $250.00 price objective on shares of Cardinal Health in a research note on Wednesday, January 14th.

Institutional Trading of Cardinal Health

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. Norges Bank acquired a new position in Cardinal Health during the 2nd quarter worth approximately $584,420,000. Holocene Advisors LP boosted its holdings in Cardinal Health by 141.4% in the 3rd quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock worth $302,332,000 after acquiring an additional 1,128,358 shares during the period. Barclays PLC grew its position in Cardinal Health by 109.3% in the third quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock valued at $248,658,000 after acquiring an additional 827,446 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Cardinal Health by 92.5% during the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock valued at $282,063,000 after purchasing an additional 807,063 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.5%

Shares of CAH opened at $217.93 on Friday. Cardinal Health has a fifty-two week low of $120.72 and a fifty-two week high of $220.27. The company’s fifty day moving average is $206.47 and its two-hundred day moving average is $178.97. The firm has a market cap of $51.78 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 1.49 and a beta of 0.64.

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.