Cardinal Health Price Target Raised to $68.00 at Cowen and Company (CAH)
Stock analysts at Cowen and Company hoisted their target price on shares of Cardinal Health (NYSE:CAH) from $60.00 to $68.00 in a report issued on Friday, Analyst Ratings Net reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price would suggest a potential upside of 12.86% from the stock’s previous close.
CAH has been the subject of a number of other recent research reports. Analysts at Mizuho raised their price target on shares of Cardinal Health from $56.00 to $65.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at FBR & Co. upgraded shares of Cardinal Health from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. Finally, analysts at FBR Capital Markets initiated coverage on shares of Cardinal Health in a research note to investors on Tuesday. They set an “outperform” rating and a $64.00 price target on the stock. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Cardinal Health has a consensus rating of “Buy” and a consensus price target of $56.56.
Shares of Cardinal Health (NYSE:CAH) opened at 60.25 on Friday. Cardinal Health has a one year low of $36.91 and a one year high of $61.18. The stock has a 50-day moving average of $54.35 and a 200-day moving average of $49.8. The company has a market cap of $20.453 billion and a price-to-earnings ratio of 60.66. Cardinal Health also was the target of some unusual options trading on Friday. Investors purchased 9,241 put options on the stock. This represents an increase of approximately 981% compared to the average daily volume of 855 put options.
Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, October 31st. The company reported $1.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.86 by $0.24. The company had revenue of $24.50 billion for the quarter, compared to the consensus estimate of $22.73 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, analysts predict that Cardinal Health will post $3.58 earnings per share for the current fiscal year.
Cardinal Health, Inc is a healthcare services company providing products and services that help pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.