Barclays Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price target hoisted by analysts at Barclays from $117.00 to $133.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 17.51% from the company’s previous close.

CAH has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Evercore ISI boosted their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Robert W. Baird increased their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley boosted their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health currently 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 firm’s fifty day simple moving average is $111.79 and its 200 day simple moving average is $104.20. The stock has a market cap of $27.39 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $119.13.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating 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 analyst estimates of $50.90 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts expect that Cardinal Health will post 7.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently modified their holdings of the company. Eastern Bank bought a new position in Cardinal Health in the third quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health in the second quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health during the second quarter valued at approximately $29,000. Hara Capital LLC purchased a new stake in Cardinal Health during the third quarter valued at approximately $31,000. Finally, LRI Investments LLC bought a new position in Cardinal Health in the first quarter worth approximately $32,000. 87.17% of the stock is owned by institutional investors.

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.