Cardinal Health (NYSE:CAH) Price Target Raised to $237.00 at Wells Fargo & Company

Cardinal Health (NYSE:CAH) had its target price boosted by Wells Fargo & Company from $221.00 to $237.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 10.44% from the stock’s previous close.

CAH has been the topic of a number of other research reports. Robert W. Baird set a $250.00 target price on shares of Cardinal Health in a research note on Wednesday. UBS Group increased their target price on Cardinal Health from $185.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Barclays started coverage on Cardinal Health in a research report on Monday, December 8th. They set an “overweight” rating and a $243.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, October 8th. Finally, Mizuho set a $222.00 target price on shares of Cardinal Health in a research note on Monday. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $216.33.

Cardinal Health Stock Up 0.5%

Shares of Cardinal Health stock traded up $1.04 on Thursday, hitting $214.60. The stock had a trading volume of 63,448 shares, compared to its average volume of 1,540,912. The stock has a market cap of $50.99 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 1.52 and a beta of 0.65. The stock’s 50-day simple moving average is $204.88 and its two-hundred day simple moving average is $174.05. Cardinal Health has a one year low of $120.72 and a one year high of $214.93.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.22 by $0.33. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The firm had revenue of $64.01 billion during the quarter, compared to the consensus estimate of $59.41 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. As a group, equities analysts predict that Cardinal Health will post 7.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Cardinal Health Company Profile

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.