Mizuho Increases Cardinal Health (NYSE:CAH) Price Target to $120.00

Cardinal Health (NYSE:CAH) had its price target upped by investment analysts at Mizuho from $110.00 to $120.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price target would indicate a potential upside of 6.03% from the stock’s previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. UBS Group boosted their price objective on Cardinal Health from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday. Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, Evercore ISI boosted their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $113.18 on Monday. Cardinal Health has a one year low of $93.17 and a one year high of $119.13. The firm has a market capitalization of $27.39 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.57 and a beta of 0.60. The business has a 50-day simple moving average of $111.79 and a 200 day simple moving average of $104.20.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. On average, sell-side analysts expect that Cardinal Health will post 7.69 EPS for the current year.

Insider Activity at Cardinal Health

In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Michelle D. Greene sold 4,000 shares of the company’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 transaction, the insider now owns 19,242 shares in the company, valued at approximately $2,094,491.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,963 shares of company stock worth $12,379,980. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

A number of large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings 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 acquiring an additional 370,181 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Cardinal Health by 19.1% in the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after acquiring an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Cardinal Health by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after acquiring an additional 14,030 shares during the period. ProShare Advisors LLC raised 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 worth $172,974,000 after buying an additional 85,247 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Cardinal Health by 7.1% in the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after buying an additional 111,137 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

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.