Cardinal Health (NYSE:CAH) Price Target Raised to $243.00

Cardinal Health (NYSE:CAH) had its price target hoisted by JPMorgan Chase & Co. from $209.00 to $243.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms have also issued reports on CAH. Wells Fargo & Company boosted their price objective on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday. Leerink Partners boosted their price target on shares of Cardinal Health from $240.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $244.00 in a report on Friday, January 9th. Robert W. Baird set a $252.00 target price on shares of Cardinal Health in a research note on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $245.19.

Cardinal Health Price Performance

Shares of CAH opened at $215.43 on Tuesday. The stock has a market capitalization of $50.69 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64. The business’s fifty day moving average price is $208.41 and its 200 day moving average price is $181.75. Cardinal Health has a 12-month low of $120.72 and a 12-month high of $230.81.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. 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 business posted $1.93 EPS. The company’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, research analysts anticipate that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Institutional Trading of Cardinal Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. increased its stake in Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after buying an additional 150 shares during the period. Aventura Private Wealth LLC acquired a new position in shares of Cardinal Health in the fourth quarter worth $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Cardinal Health during the fourth quarter worth $27,000. Jones Financial Companies Lllp boosted its position in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. Finally, Palladiem LLC purchased a new position in Cardinal Health in the fourth quarter valued at about $28,000. 87.17% of the stock is owned by institutional investors and hedge funds.

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.