Cardinal Health (NYSE:CAH) PT Lowered to $107.00 at Citigroup

Cardinal Health (NYSE:CAH) had its price objective lowered by analysts at Citigroup from $115.00 to $107.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 12.24% from the stock’s previous close.

A number of other research analysts also recently issued reports on CAH. Argus decreased their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Evercore ISI cut their price target on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Robert W. Baird increased their price target on Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Finally, Wells Fargo & Company reduced their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Cardinal Health Trading Up 0.0 %

Shares of NYSE:CAH traded up $0.03 during trading on Friday, reaching $95.33. 841,064 shares of the company traded hands, compared to its average volume of 2,176,400. The business’s fifty day moving average is $98.25 and its 200-day moving average is $103.92. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of 42.47, a P/E/G ratio of 1.06 and a beta of 0.61. Cardinal Health has a 52-week low of $85.11 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Cardinal Health will post 7.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Hedge funds have recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new position in Cardinal Health in the 4th quarter valued at approximately $25,000. Raleigh Capital Management Inc. boosted its holdings in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Cardinal Health in the 4th quarter valued at about $30,000. YHB Investment Advisors Inc. bought a new stake in Cardinal Health in the first quarter worth about $32,000. Finally, LRI Investments LLC purchased a new position in Cardinal Health during the first quarter valued at approximately $32,000. Institutional investors own 87.17% of the company’s stock.

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.