Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Cardinal Health (NYSE:CAH) had its target price hoisted by analysts at Wells Fargo & Company from $127.00 to $135.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 5.81% from the company’s current price.

Several other equities research analysts also recently commented on the company. Morgan Stanley lifted their price objective on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Barclays increased their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $135.21.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $127.59 on Wednesday. The company has a market cap of $30.88 billion, a PE ratio of 24.82, a P/E/G ratio of 1.57 and a beta of 0.63. The firm’s 50 day moving average price is $121.75 and its 200-day moving average price is $113.66. Cardinal Health has a 52-week low of $93.17 and a 52-week high of $131.29.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 EPS. On average, analysts forecast that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAH. State Street Corp raised its position in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares during the last quarter. Geode Capital Management LLC grew its stake in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after acquiring an additional 191,568 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after purchasing an additional 346,362 shares during the last quarter. 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.