Cardinal Health (NYSE:CAH) Price Target Raised to $125.00 at Argus

Cardinal Health (NYSE:CAH) had its target price increased by equities research analysts at Argus from $115.00 to $125.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Argus’ target price would indicate a potential upside of 11.25% from the company’s current price.

Several other research firms have also issued reports on CAH. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Morgan Stanley upped their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Robert W. Baird raised their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company upped their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $112.36 on Wednesday. Cardinal Health has a 1-year low of $85.82 and a 1-year high of $116.05. The business has a fifty day moving average price of $103.64 and a 200 day moving average price of $104.09. The stock has a market capitalization of $27.37 billion, a P/E ratio of 49.94, a price-to-earnings-growth ratio of 1.53 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts anticipate that Cardinal Health will post 7.6 earnings per share for the current fiscal year.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the transaction, the insider now directly owns 19,242 shares in the company, valued at $2,094,491.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now owns 75,971 shares in the company, valued at $8,310,467.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the sale, the insider now owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cardinal Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in shares of Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after buying an additional 370,181 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after purchasing an additional 598,002 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Cardinal Health by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after purchasing an additional 14,030 shares during the last quarter. Norges Bank acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $258,499,000. Finally, ProShare Advisors LLC grew its position in shares of Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after purchasing an additional 85,247 shares in the last quarter. Institutional investors and hedge funds 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.