JPMorgan Chase & Co. Increases Cardinal Health (NYSE:CAH) Price Target to $243.00

Cardinal Health (NYSE:CAH) had its target price increased by investment analysts at JPMorgan Chase & Co. from $209.00 to $243.00 in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.39% from the stock’s previous close.

A number of other equities analysts have also issued reports on CAH. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. UBS Group set a $260.00 price target on shares of Cardinal Health and gave the stock a “buy” rating in a research report on Friday, February 6th. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $190.00 to $244.00 in a research report on Friday, January 9th. Jefferies Financial Group lifted their target price on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Morgan Stanley set a $255.00 price target on Cardinal Health in a research note on Friday, February 6th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $245.19.

Cardinal Health Price Performance

Cardinal Health stock opened at $224.20 on Tuesday. Cardinal Health has a fifty-two week low of $120.72 and a fifty-two week high of $230.81. The firm has a fifty day moving average price of $208.08 and a two-hundred day moving average price of $181.52. The firm has a market cap of $52.76 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 1.42 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same period in the previous year, the company posted $1.93 earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, sell-side analysts expect that Cardinal Health will post 7.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Cardinal Health by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after purchasing an additional 617,775 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cardinal Health by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock worth $1,336,750,000 after buying an additional 43,924 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after buying an additional 3,511,579 shares during the period. Norges Bank acquired a new position in Cardinal Health in the fourth quarter valued at approximately $790,344,000. Finally, Bank of America Corp DE boosted its stake in Cardinal Health by 3.2% in the third quarter. Bank of America Corp DE now owns 3,592,775 shares of the company’s stock valued at $563,922,000 after acquiring an additional 111,582 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.