Citigroup Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price objective increased by research analysts at Citigroup from $120.00 to $129.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 6.00% from the company’s previous close.

CAH has been the topic of a number of other research reports. Mizuho assumed coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective 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 company’s stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Trading Down 0.7 %

CAH stock opened at $121.70 on Friday. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $126.23. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. The firm’s 50-day moving average is $119.88 and its two-hundred day moving average is $111.01.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Private Advisor Group LLC raised its position in shares of Cardinal Health by 16.4% in the 2nd quarter. Private Advisor Group LLC now owns 14,056 shares of the company’s stock valued at $1,382,000 after acquiring an additional 1,979 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health during the 2nd quarter worth approximately $29,000. PFG Investments LLC raised its holdings in Cardinal Health by 16.4% during the 2nd quarter. PFG Investments LLC now owns 2,224 shares of the company’s stock worth $219,000 after buying an additional 314 shares during the period. Choreo LLC bought a new position in shares of Cardinal Health during the 2nd quarter worth approximately $607,000. Finally, Royal London Asset Management Ltd. grew its stake in shares of Cardinal Health by 0.6% during the 2nd quarter. Royal London Asset Management Ltd. now owns 97,675 shares of the company’s stock worth $9,554,000 after acquiring an additional 545 shares in the last quarter. 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.