Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Cardinal Health (NYSE:CAHGet Free Report) had its target price hoisted by equities researchers at Wells Fargo & Company from $127.00 to $135.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 5.21% from the company’s current price.

A number of other equities analysts also recently commented on CAH. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. UBS Group raised their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Mizuho initiated 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. Finally, TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $135.21.

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Cardinal Health Price Performance

Shares of NYSE CAH opened at $128.32 on Wednesday. The company has a market cap of $31.05 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The stock’s 50-day moving average is $122.00 and its two-hundred day moving average is $113.85. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $132.84.

Cardinal Health (NYSE:CAHGet Free Report) last released its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Equities research analysts anticipate that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently made changes to their positions in CAH. Public Sector Pension Investment Board grew its stake in shares of Cardinal Health by 88.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 9,437 shares of the company’s stock valued at $928,000 after purchasing an additional 4,435 shares during the last quarter. Marshall Wace LLP purchased a new position in Cardinal Health in the 2nd quarter valued at $1,979,000. Creative Planning increased its stake in Cardinal Health by 0.7% in the 2nd quarter. Creative Planning now owns 41,764 shares of the company’s stock valued at $4,106,000 after buying an additional 308 shares during the period. EP Wealth Advisors LLC raised its position in Cardinal Health by 3.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,503 shares of the company’s stock worth $541,000 after buying an additional 189 shares during the last quarter. Finally, Ariadne Wealth Management LP acquired a new stake in shares of Cardinal Health in the 2nd quarter worth $86,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

About Cardinal Health

(Get Free Report)

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.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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