Cardinal Health (NYSE:CAH) Given New $203.00 Price Target at Robert W. Baird

Cardinal Health (NYSE:CAH) had its target price raised by Robert W. Baird from $197.00 to $203.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Cardinal Health in a report on Tuesday. Bank of America upped their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Citigroup reaffirmed a “neutral” rating and issued a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Jefferies Financial Group set a $150.00 target price on shares of Cardinal Health in a report on Tuesday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $185.00 target price (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.20.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $148.14 on Wednesday. The firm has a market capitalization of $35.36 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.44 and a beta of 0.67. The company’s fifty day moving average price is $159.80 and its two-hundred day moving average price is $144.20. Cardinal Health has a 52-week low of $105.01 and a 52-week high of $168.44.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 EPS. Analysts predict that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Cardinal Health by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock valued at $1,069,005,000 after purchasing an additional 205,539 shares during the period. JPMorgan Chase & Co. lifted its position in Cardinal Health by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock valued at $575,327,000 after purchasing an additional 1,193,983 shares during the period. Norges Bank acquired a new position in Cardinal Health during the 2nd quarter valued at about $584,420,000. Marshall Wace LLP lifted its position in Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock valued at $372,756,000 after purchasing an additional 1,913,892 shares during the period. Finally, Northern Trust Corp lifted its position in Cardinal Health by 3.5% during the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company’s stock valued at $433,012,000 after purchasing an additional 105,154 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.