Cardinal Health (NYSE:CAH) Given New $251.00 Price Target at TD Cowen

Cardinal Health (NYSE:CAH) had its target price increased by investment analysts at TD Cowen from $233.00 to $251.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 13.59% from the stock’s previous close.

A number of other research firms have also issued reports on CAH. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised their price target on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday. Mizuho upped their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Evercore reiterated an “outperform” rating and set a $260.00 price objective on shares of Cardinal Health in a research note on Thursday, February 5th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.19.

Cardinal Health Stock Down 2.1%

NYSE:CAH opened at $220.98 on Wednesday. The business’s 50 day moving average is $207.59 and its two-hundred day moving average is $181.21. Cardinal Health has a 52 week low of $120.72 and a 52 week high of $230.81. The company has a market cap of $52.00 billion, a PE ratio of 31.80, a P/E/G ratio of 1.46 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.32. The firm had revenue of $65.63 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business posted $1.93 earnings per share. As a group, sell-side analysts expect that Cardinal Health will post 7.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Patron Partners LLC grew its stake in shares of Cardinal Health by 7.0% during the 4th quarter. Patron Partners LLC now owns 2,520 shares of the company’s stock worth $518,000 after acquiring an additional 165 shares during the period. Pinebridge Investments LLC purchased a new stake in Cardinal Health in the 4th quarter worth approximately $15,553,000. Total Wealth Planning & Management Inc. bought a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $889,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Cardinal Health by 46.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,782 shares of the company’s stock valued at $777,000 after acquiring an additional 1,200 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in Cardinal Health by 3.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 11,717 shares of the company’s stock valued at $2,225,000 after acquiring an additional 344 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

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.