Cardinal Health (NYSE:CAH) Given New $129.00 Price Target at Citigroup

Cardinal Health (NYSE:CAH) had its target price raised by investment analysts at Citigroup from $120.00 to $129.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 6.00% from the company’s previous close.

A number of other research firms have also recently commented on CAH. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $101.00 to $127.00 in a report on Friday, December 13th. UBS Group upped their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $144.00 in a research note on Wednesday. Finally, Barclays upped their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $121.70 on Friday. The firm has a 50-day moving average of $119.88 and a 200-day moving average of $111.01. The stock has a market cap of $29.45 billion, a PE ratio of 23.68, a PEG ratio of 1.47 and a beta of 0.63. Cardinal Health has a 52-week low of $93.17 and a 52-week high of $126.23.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the prior year, the business posted $1.73 earnings per share. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts predict that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

Several large investors have recently bought and sold shares of CAH. Graypoint LLC increased its position in shares of Cardinal Health by 76.8% during the 4th quarter. Graypoint LLC now owns 4,208 shares of the company’s stock valued at $498,000 after purchasing an additional 1,828 shares during the last quarter. Birch Capital Management LLC increased its holdings in Cardinal Health by 1.5% in the 4th quarter. Birch Capital Management LLC now owns 28,822 shares of the company’s stock worth $3,409,000 after acquiring an additional 429 shares during the last quarter. Insight Wealth Strategies LLC increased its holdings in Cardinal Health by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 19,796 shares of the company’s stock worth $2,341,000 after acquiring an additional 313 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in Cardinal Health by 10.1% in the 4th quarter. CWA Asset Management Group LLC now owns 129,052 shares of the company’s stock worth $15,263,000 after acquiring an additional 11,847 shares during the last quarter. Finally, Pensionfund Sabic increased its holdings in Cardinal Health by 42.0% in the 4th quarter. Pensionfund Sabic now owns 14,200 shares of the company’s stock worth $1,679,000 after acquiring an additional 4,200 shares during the last quarter. 87.17% of the stock is currently 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.