Cardinal Health (NYSE:CAH) Given New $286.00 Price Target at JPMorgan Chase & Co.

Cardinal Health (NYSE:CAH) had its price objective raised by analysts at JPMorgan Chase & Co. from $260.00 to $286.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 3.97% from the company’s current price.

Several other research firms have also issued reports on CAH. Morgan Stanley upped their price target on Cardinal Health from $265.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. TD Cowen lifted their price objective on shares of Cardinal Health from $280.00 to $304.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank Of Canada boosted their target price on shares of Cardinal Health from $276.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Evercore reissued an “outperform” rating and set a $270.00 target price on shares of Cardinal Health in a report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $275.62.

Cardinal Health Price Performance

NYSE:CAH traded up $0.78 during mid-day trading on Tuesday, reaching $275.07. The stock had a trading volume of 255,515 shares, compared to its average volume of 1,949,492. The company has a market capitalization of $63.70 billion, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 1.57 and a beta of 0.53. Cardinal Health has a 1-year low of $180.45 and a 1-year high of $286.29. The stock’s 50 day simple moving average is $241.24 and its two-hundred day simple moving average is $223.87.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, November 5th. The company reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.32. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The firm had revenue of $67.51 billion for the quarter, compared to analysts’ expectations of $66.67 billion. During the same quarter in the prior year, the firm posted $2.55 earnings per share. Cardinal Health’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts anticipate that Cardinal Health will post 12.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jason Hollar sold 44,529 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total transaction of $10,516,859.22. Following the completion of the transaction, the chief executive officer owned 190,603 shares of the company’s stock, valued at approximately $45,016,616.54. The trade was a 18.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the transaction, the chief executive officer owned 77,901 shares of the company’s stock, valued at $18,341,790.45. This represents a 8.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 in the last three months. 0.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cardinal Health

Large investors have recently made changes to their positions in the company. Bridges Investment Management Inc. acquired a new stake in Cardinal Health in the 3rd quarter valued at approximately $391,000. Edgestream Partners L.P. bought a new stake in Cardinal Health during the 3rd quarter valued at $7,073,000. Banco Santander S.A. raised its stake in Cardinal Health by 11.8% during the 3rd quarter. Banco Santander S.A. now owns 117,572 shares of the company’s stock valued at $26,160,000 after acquiring an additional 12,420 shares in the last quarter. Paralel Advisors LLC boosted its position in Cardinal Health by 1.1% during the 3rd quarter. Paralel Advisors LLC now owns 11,056 shares of the company’s stock worth $2,460,000 after acquiring an additional 124 shares during the period. Finally, White Pine Capital LLC acquired a new position in Cardinal Health during the 3rd quarter worth $344,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

About Cardinal Health

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.

The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations.

Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.