Cardinal Health (NYSE:CAH) Given New $248.00 Price Target at Argus

Cardinal Health (NYSE:CAH) had its price target increased by equities research analysts at Argus from $232.00 to $248.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Argus’ price objective suggests a potential upside of 12.23% from the company’s current price.

Several other brokerages have also issued reports on CAH. Barclays began coverage on Cardinal Health in a research note on Monday, December 8th. They set an “overweight” rating and a $243.00 price target for the company. TD Cowen lifted their target price on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. Wells Fargo & Company boosted their target price on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Jefferies Financial Group boosted their price objective on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.19.

Cardinal Health Trading Down 2.1%

Shares of CAH opened at $220.98 on Wednesday. Cardinal Health has a 12 month low of $120.72 and a 12 month high of $230.81. The stock has a 50 day moving average of $207.59 and a 200 day moving average of $181.21. The company has a market capitalization of $52.00 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.46 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping 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 firm had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. During the same period last year, the company earned $1.93 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, equities research analysts predict that Cardinal Health will post 7.95 earnings per share for the current year.

Hedge Funds Weigh In On Cardinal Health

Several institutional investors have recently bought and sold shares of CAH. Aventura Private Wealth LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at about $25,000. SJS Investment Consulting Inc. raised its position in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth $34,000. Atlantic Edge Private Wealth Management LLC increased its holdings in Cardinal Health by 75.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after purchasing an additional 75 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC lifted its stake in Cardinal Health by 38.7% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company’s stock valued at $39,000 after buying an additional 53 shares during the period. 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.