Evercore Lowers Cardinal Health (NYSE:CAH) Price Target to $240.00

Cardinal Health (NYSE:CAH) had its price objective dropped by stock analysts at Evercore from $260.00 to $240.00 in a report released on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the stock. Evercore’s price objective would indicate a potential upside of 11.15% from the company’s current price.

Other equities analysts have also issued reports about the stock. Mizuho lifted their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $190.00 to $244.00 in a report on Friday, January 9th. Barclays lifted their price objective on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Wells Fargo & Company increased their target price on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.33.

Cardinal Health Trading Up 0.4%

CAH stock opened at $215.93 on Wednesday. The company has a market capitalization of $50.81 billion, a P/E ratio of 31.06, a PEG ratio of 1.38 and a beta of 0.64. The business has a 50 day simple moving average of $217.73 and a 200-day simple moving average of $199.91. Cardinal Health has a twelve month low of $124.73 and a twelve month high of $233.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.32. The business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 earnings per share. Research analysts predict that Cardinal Health will post 7.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Cardinal Health by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock worth $6,461,179,000 after acquiring an additional 617,775 shares during the period. State Street Corp raised its holdings in Cardinal Health by 1.8% during the fourth quarter. State Street Corp now owns 12,509,230 shares of the company’s stock worth $2,570,647,000 after purchasing an additional 221,497 shares during the last quarter. Geode Capital Management LLC boosted its position in Cardinal Health by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after purchasing an additional 43,924 shares in the last quarter. Wellington Management Group LLP grew its holdings in Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the last quarter. Finally, Norges Bank acquired a new stake in Cardinal Health in the fourth quarter valued at $790,344,000. 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.