Evercore ISI Upgrades Cardinal Health (NYSE:CAH) to “Outperform”

Cardinal Health (NYSE:CAH) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage currently has a $140.00 price target on the stock. Evercore ISI’s price target would indicate a potential upside of 14.23% from the company’s previous close.

Other analysts have also recently issued reports about the company. Mizuho assumed coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Finally, Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $145.00 in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.71.

Cardinal Health Trading Up 1.0 %

NYSE:CAH opened at $122.56 on Tuesday. The company has a 50-day moving average price of $119.49 and a 200-day moving average price of $110.76. The stock has a market cap of $29.66 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 1.47 and a beta of 0.63. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $126.23.

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

Hedge Funds Weigh In On Cardinal Health

Several hedge funds have recently modified their holdings of CAH. Eastern Bank bought a new stake in shares of Cardinal Health in the 3rd quarter valued at approximately $25,000. Frazier Financial Advisors LLC raised its stake in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC bought a new stake in shares of Cardinal Health in the 3rd quarter worth about $31,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Cardinal Health during the 2nd quarter worth about $29,000. Finally, AM Squared Ltd purchased a new stake in Cardinal Health in the 3rd quarter worth about $33,000. Hedge funds and other 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.