Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cardinal Health (NYSE:CAH) had its price target raised by JPMorgan Chase & Co. from $209.00 to $243.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 7.47% from the company’s previous close.

CAH has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Morgan Stanley set a $255.00 price objective on Cardinal Health in a research note on Friday. Finally, Barclays assumed 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. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $242.56.

Cardinal Health Stock Down 0.1%

Cardinal Health stock opened at $226.12 on Tuesday. The firm’s fifty day moving average is $207.28 and its 200 day moving average is $180.77. Cardinal Health has a 12-month low of $120.72 and a 12-month high of $230.81. The company has a market capitalization of $53.21 billion, a PE ratio of 32.38, a PEG ratio of 1.48 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. During the same period in the previous year, the company posted $1.93 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. Sell-side analysts expect that Cardinal Health will post 7.95 EPS for the current fiscal year.

Institutional Trading of Cardinal Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strategy Asset Managers LLC bought a new position in shares of Cardinal Health during the 3rd quarter valued at about $775,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Cardinal Health by 15.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock valued at $5,938,000 after buying an additional 5,030 shares during the period. Atle Fund Management AB increased its holdings in shares of Cardinal Health by 13.1% in the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after buying an additional 3,500 shares during the period. National Pension Service lifted its stake in shares of Cardinal Health by 7.2% in the 3rd quarter. National Pension Service now owns 500,340 shares of the company’s stock valued at $78,533,000 after acquiring an additional 33,673 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Cardinal Health by 107.2% during the 2nd quarter. Baird Financial Group Inc. now owns 99,393 shares of the company’s stock valued at $16,698,000 after acquiring an additional 51,416 shares during the period. 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.