Argus Increases Cardinal Health (NYSE:CAH) Price Target to $248.00

Cardinal Health (NYSE:CAH) had its price target upped by analysts at Argus from $232.00 to $248.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Argus’ target price points to a potential upside of 12.23% from the stock’s previous close.

Several other brokerages have also recently weighed in on CAH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Barclays initiated coverage on Cardinal Health in a research note on Monday, December 8th. They issued an “overweight” rating and a $243.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a report on Tuesday, November 18th. Robert W. Baird set a $252.00 price target on shares of Cardinal Health in a research note on Friday. Finally, Evercore ISI boosted their price objective on Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $245.19.

Cardinal Health Trading Down 2.1%

Shares of Cardinal Health stock opened at $220.98 on Wednesday. The stock’s fifty day simple moving average is $207.59 and its 200 day simple moving average is $181.21. The company has a market capitalization of $52.00 billion, a PE ratio of 31.80, a PEG ratio of 1.46 and a beta of 0.64. Cardinal Health has a 12 month low of $120.72 and a 12 month high of $230.81.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The company had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Analysts predict that Cardinal Health will post 7.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC raised its holdings in Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after acquiring an additional 280 shares during the period. Jones Financial Companies Lllp boosted its stake in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the period. Concurrent Investment Advisors LLC raised its position in Cardinal Health by 5.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 8,890 shares of the company’s stock worth $1,494,000 after purchasing an additional 483 shares during the period. CWM LLC grew its stake in shares of Cardinal Health by 6.3% during the second quarter. CWM LLC now owns 13,135 shares of the company’s stock valued at $2,207,000 after buying an additional 774 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Cardinal Health by 11.4% in the second quarter. Sequoia Financial Advisors LLC now owns 8,946 shares of the company’s stock worth $1,503,000 after buying an additional 916 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.