Wells Fargo & Company Boosts Cardinal Health (NYSE:CAH) Price Target to $136.00

Cardinal Health (NYSE:CAH) had its price objective raised by investment analysts at Wells Fargo & Company from $135.00 to $136.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.74% from the stock’s current price.

A number of other research firms have also recently commented on CAH. Citigroup boosted their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $132.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a research report on Tuesday, January 7th. Morgan Stanley upped their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.87.

Cardinal Health Price Performance

CAH opened at $127.41 on Tuesday. Cardinal Health has a one year low of $93.17 and a one year high of $132.84. The firm has a market capitalization of $30.78 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. The company has a fifty day moving average price of $122.26 and a 200-day moving average price of $114.83.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, analysts expect that Cardinal Health will post 7.92 earnings per share for the current year.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors have recently added to or reduced their stakes in the company. Asahi Life Asset Management CO. LTD. bought a new position in shares of Cardinal Health during the fourth quarter valued at about $381,000. Bailard Inc. increased its holdings in Cardinal Health by 3.0% during the 4th quarter. Bailard Inc. now owns 6,012 shares of the company’s stock valued at $711,000 after purchasing an additional 177 shares during the period. Smartleaf Asset Management LLC raised its position in Cardinal Health by 37.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,378 shares of the company’s stock valued at $163,000 after purchasing an additional 375 shares during the last quarter. Keynote Financial Services LLC purchased a new stake in Cardinal Health in the 4th quarter worth approximately $201,000. Finally, Jacobi Capital Management LLC grew its position in shares of Cardinal Health by 10.6% in the 4th quarter. Jacobi Capital Management LLC now owns 3,365 shares of the company’s stock worth $398,000 after buying an additional 322 shares during the last quarter. 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.