Cardinal Health (NYSE:CAH) Price Target Raised to $129.00 at Citigroup

Cardinal Health (NYSE:CAH) had its price objective increased by analysts at Citigroup from $120.00 to $129.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 5.47% from the company’s current price.

A number of other brokerages have also commented on CAH. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $144.00 in a report on Wednesday. Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $145.00 in a research note on Monday. Finally, Barclays raised their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Stock Performance

Cardinal Health stock traded down $0.22 during trading on Friday, reaching $122.31. 888,458 shares of the company’s stock were exchanged, compared to its average volume of 2,078,087. The company’s 50-day moving average is $119.77 and its two-hundred day moving average is $110.84. Cardinal Health has a 52-week low of $93.17 and a 52-week high of $126.23. The firm has a market cap of $29.60 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts anticipate that Cardinal Health will post 7.82 EPS for the current year.

Institutional Trading of Cardinal Health

Several hedge funds have recently added to or reduced their stakes in CAH. State Street Corp boosted its stake in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after purchasing an additional 627,253 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after buying an additional 42,082 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Cardinal Health by 4.7% during the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after acquiring an additional 191,568 shares during the period. ProShare Advisors LLC raised its position in Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after acquiring an additional 85,247 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Cardinal Health by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after purchasing an additional 111,137 shares during the last quarter. 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.