Cardinal Health (NYSE:CAH) Given New $124.00 Price Target at Deutsche Bank Aktiengesellschaft

Cardinal Health (NYSE:CAH) had its target price raised by stock analysts at Deutsche Bank Aktiengesellschaft from $119.00 to $124.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 9.48% from the stock’s previous close.

CAH has been the topic of several other research reports. Robert W. Baird increased their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Wells Fargo & Company increased their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Mizuho lifted their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday. Finally, Evercore ISI boosted their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Stock Performance

NYSE:CAH traded down $2.87 during mid-day trading on Monday, hitting $113.26. 1,209,789 shares of the company’s stock traded hands, compared to its average volume of 2,069,355. The company has a fifty day moving average of $111.75 and a 200 day moving average of $104.17. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $119.13. The company has a market capitalization of $27.40 billion, a P/E ratio of 32.73, a P/E/G ratio of 1.49 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.24. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the prior year, the business posted $1.73 EPS. Cardinal Health’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts expect that Cardinal Health will post 7.61 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the transaction, the insider now directly owns 19,242 shares in the company, valued at approximately $2,094,491.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the sale, the insider now directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Eastern Bank purchased a new stake in Cardinal Health during the third quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $27,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Cardinal Health in the 2nd quarter valued at $29,000. Hara Capital LLC acquired a new stake in Cardinal Health during the 3rd quarter worth $31,000. Finally, LRI Investments LLC purchased a new stake in Cardinal Health in the first quarter valued at $32,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

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.