Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, Barclays Analyst Says

Cardinal Health (NYSE:CAH) had its price target increased by research analysts at Barclays from $117.00 to $133.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 14.53% from the company’s current price.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Evercore ISI lifted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Citigroup reduced their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Robert W. Baird boosted their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $121.64.

Cardinal Health Stock Up 7.0 %

Shares of NYSE CAH opened at $116.13 on Monday. The company has a market capitalization of $28.10 billion, a PE ratio of 33.56, a PEG ratio of 1.49 and a beta of 0.60. The stock’s 50 day moving average price is $111.75 and its 200-day moving average price is $104.17. Cardinal Health has a twelve month low of $91.14 and a twelve month high of $119.13.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.24. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. As a group, research analysts expect that Cardinal Health will post 7.61 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors have recently made changes to their positions in CAH. Sigma Planning Corp increased its stake in Cardinal Health by 20.2% in the third quarter. Sigma Planning Corp now owns 11,431 shares of the company’s stock valued at $1,263,000 after acquiring an additional 1,924 shares during the last quarter. Atria Investments Inc raised its holdings in shares of Cardinal Health by 7.5% during the 3rd quarter. Atria Investments Inc now owns 12,810 shares of the company’s stock valued at $1,416,000 after buying an additional 899 shares in the last quarter. Assetmark Inc. lifted its position in Cardinal Health by 25.8% in the 3rd quarter. Assetmark Inc. now owns 37,561 shares of the company’s stock worth $4,151,000 after buying an additional 7,692 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Cardinal Health in the third quarter worth approximately $12,954,000. Finally, Fiera Capital Corp bought a new position in Cardinal Health during the third quarter valued at approximately $507,000. Institutional investors own 87.17% of the company’s stock.

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.