Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, Citigroup Analyst Says

Cardinal Health (NYSE:CAH) had its target price raised by equities research analysts at Citigroup from $157.00 to $170.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 5.97% from the stock’s current price.

A number of other research firms also recently commented on CAH. Evercore ISI boosted their target price on shares of Cardinal Health from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America increased their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group increased their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Mizuho lifted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $136.00 to $179.00 in a report on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.36.

Cardinal Health Stock Up 4.5%

Shares of Cardinal Health stock opened at $160.43 on Friday. The company has a market capitalization of $38.29 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $162.17. The stock’s 50-day simple moving average is $145.31 and its 200-day simple moving average is $132.35.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the prior year, the business posted $2.08 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts expect that Cardinal Health will post 7.95 earnings per share for the current year.

Institutional Trading of Cardinal Health

Institutional investors have recently bought and sold shares of the business. Cyrus J. Lawrence LLC acquired a new stake in shares of Cardinal Health in the 4th quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. bought a new stake in Cardinal Health during the first quarter worth approximately $26,000. Jones Financial Companies Lllp increased its holdings in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares in the last quarter. Promus Capital LLC purchased a new position in shares of Cardinal Health during the 4th quarter valued at $30,000. Finally, Bellwether Advisors LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at $32,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.