JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $142.00 to $145.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 14.49% from the stock’s previous close.

Several other equities analysts have also issued reports on CAH. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley upped their price target on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.93.

Cardinal Health Stock Up 1.1 %

NYSE:CAH traded up $1.32 during mid-day trading on Tuesday, hitting $126.65. 301,004 shares of the stock traded hands, compared to its average volume of 2,314,896. The business’s 50-day moving average price is $122.11 and its 200 day moving average price is $114.53. The company has a market cap of $30.60 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $132.84.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Analysts anticipate that Cardinal Health will post 7.92 earnings per share for the current fiscal year.

Institutional Trading of Cardinal Health

A number of institutional investors have recently bought and sold shares of CAH. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Cardinal Health by 2.1% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 52,517 shares of the company’s stock valued at $6,211,000 after purchasing an additional 1,100 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Cardinal Health by 3.6% during the fourth quarter. Sigma Planning Corp now owns 11,844 shares of the company’s stock valued at $1,401,000 after buying an additional 413 shares during the period. Transcend Capital Advisors LLC raised its holdings in shares of Cardinal Health by 3.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 2,735 shares of the company’s stock valued at $323,000 after acquiring an additional 96 shares in the last quarter. Handelsbanken Fonder AB increased its position in Cardinal Health by 11.6% during the 4th quarter. Handelsbanken Fonder AB now owns 39,783 shares of the company’s stock valued at $4,705,000 after purchasing an additional 4,140 shares during the period. Finally, LMG Wealth Partners LLC raised its holdings in shares of Cardinal Health by 0.8% in the 4th quarter. LMG Wealth Partners LLC now owns 90,807 shares of the company’s stock valued at $10,740,000 after purchasing an additional 756 shares in the last quarter. 87.17% of the stock is currently 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.