Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cardinal Health (NYSE:CAH) had its price target raised by investment analysts at JPMorgan Chase & Co. from $142.00 to $145.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 13.81% from the company’s previous close.

A number of other brokerages also recently issued reports on CAH. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. 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 report on Tuesday, January 7th. UBS Group lifted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.87.

Cardinal Health Stock Up 1.8 %

Cardinal Health stock opened at $127.41 on Tuesday. The company’s 50-day moving average price is $122.26 and its 200-day moving average price is $114.83. The company has a market cap of $30.78 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $132.84.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, sell-side analysts expect that Cardinal Health will post 7.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds have recently made changes to their positions in CAH. Czech National Bank lifted its stake in Cardinal Health by 7.0% in the third quarter. Czech National Bank now owns 49,673 shares of the company’s stock worth $5,490,000 after acquiring an additional 3,259 shares during the period. GAMMA Investing LLC raised its holdings in shares of Cardinal Health by 34.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,557 shares of the company’s stock valued at $393,000 after purchasing an additional 902 shares in the last quarter. Exeter Financial LLC lifted its position in shares of Cardinal Health by 0.9% in the 3rd quarter. Exeter Financial LLC now owns 14,757 shares of the company’s stock worth $1,631,000 after purchasing an additional 128 shares during the period. Alpha Cubed Investments LLC bought a new position in shares of Cardinal Health during the third quarter valued at approximately $371,000. Finally, Insight Wealth Strategies LLC increased its holdings in Cardinal Health by 1.9% during the third quarter. Insight Wealth Strategies LLC now owns 19,483 shares of the company’s stock valued at $2,153,000 after buying an additional 365 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.