Cardinal Health (NYSE:CAH) Given Outperform Rating at Evercore ISI

Cardinal Health (NYSE:CAH)‘s stock had its “outperform” rating restated by investment analysts at Evercore ISI in a report released on Thursday, Marketbeat reports. They presently have a $180.00 price objective on the stock, up from their prior price objective of $175.00. Evercore ISI’s price target suggests a potential upside of 10.79% from the company’s current price.

Several other analysts also recently weighed in on CAH. UBS Group increased their target price on Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Bank of America increased their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Wells Fargo & Company raised shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Mizuho upped their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Finally, Citigroup reissued a “neutral” rating on shares of Cardinal Health in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.43.

Cardinal Health Price Performance

NYSE:CAH traded up $1.06 during mid-day trading on Thursday, reaching $162.47. The stock had a trading volume of 613,742 shares, compared to its average volume of 2,224,623. The stock has a market cap of $38.78 billion, a P/E ratio of 30.33, a PEG ratio of 1.49 and a beta of 0.66. The business’s 50 day moving average is $146.04 and its 200 day moving average is $132.76. Cardinal Health has a fifty-two week low of $93.17 and a fifty-two week high of $163.06.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same period in the prior year, the company posted $2.08 earnings per share. Cardinal Health’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts expect that Cardinal Health will post 7.95 EPS for the current year.

Institutional Investors Weigh In On Cardinal Health

Several large investors have recently made changes to their positions in the stock. Consolidated Planning Corp lifted its holdings in shares of Cardinal Health by 40.0% in the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock valued at $1,056,000 after purchasing an additional 2,552 shares in the last quarter. Flputnam Investment Management Co. increased its holdings in Cardinal Health by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock worth $21,358,000 after buying an additional 3,148 shares during the last quarter. Huntington National Bank raised its position in Cardinal Health by 1.2% during the fourth quarter. Huntington National Bank now owns 10,920 shares of the company’s stock worth $1,292,000 after acquiring an additional 128 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Cardinal Health in the fourth quarter valued at $93,000. Finally, Fisher Asset Management LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth about $368,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

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.