Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price target raised by equities researchers at Deutsche Bank Aktiengesellschaft from $119.00 to $124.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 9.56% from the company’s previous close.

A number of other brokerages also recently weighed in on CAH. Mizuho raised their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday. Citigroup decreased their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Barclays lifted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group lifted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley lifted their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Stock Up 1.1 %

NYSE CAH opened at $113.18 on Monday. The company has a market cap of $27.39 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $119.13. The firm’s 50-day simple moving average is $111.79 and its two-hundred day simple moving average is $104.20.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Cardinal Health will post 7.69 EPS for the current year.

Insider Activity at Cardinal Health

In related news, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were 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 in the company, valued at $2,094,491.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michelle D. Greene sold 4,000 shares of the business’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 sale, the insider now owns 19,242 shares in the company, valued at approximately $2,094,491.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 over the last quarter. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Cardinal Health

A number of hedge funds have recently modified their holdings of CAH. Allspring Global Investments Holdings LLC boosted its holdings in shares of Cardinal Health by 379.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,105 shares of the company’s stock valued at $11,873,000 after buying an additional 83,975 shares in the last quarter. Private Advisor Group LLC boosted its stake in Cardinal Health by 13.4% in the 1st quarter. Private Advisor Group LLC now owns 12,077 shares of the company’s stock worth $1,350,000 after purchasing an additional 1,428 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cardinal Health by 34.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,580 shares of the company’s stock worth $9,576,000 after purchasing an additional 21,801 shares in the last quarter. Graypoint LLC bought a new position in Cardinal Health in the 1st quarter worth about $265,000. Finally, Daiwa Securities Group Inc. boosted its stake in Cardinal Health by 37.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 37,753 shares of the company’s stock worth $4,224,000 after purchasing an additional 10,317 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

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.