Cardinal Health (NYSE:CAH) Price Target Cut to $240.00 by Analysts at Evercore

Key Points

• Evercore cut its price target on Cardinal Health from $260 to $240 while keeping an "outperform" rating, implying roughly an 11.15% upside from the current price.
• Other analysts largely raised targets (e.g., TD Cowen $251, Wells Fargo $256, Argus $248, Mizuho $235), leaving an average target of $244.33 and an overall consensus rating of "Moderate Buy" (1 Strong Buy, 14 Buy, 2 Hold).
• Cardinal Health beat quarterly estimates with $2.63 EPS versus $2.31 expected and $65.63B revenue (up 18.8% YoY); shares opened around $215.93 and the market cap is about $50.8B.

Cardinal Health (NYSE:CAH - Get Free Report) had its target price cut by analysts at Evercore from $260.00 to $240.00 in a report released on Wednesday,MarketScreener reports. The firm presently has an "outperform" rating on the stock. Evercore's target price would suggest a potential upside of 11.15% from the company's current price.

Other analysts have also issued research reports about the company. TD Cowen upped their price objective on Cardinal Health from $233.00 to $251.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Mizuho lifted their target price on Cardinal Health from $222.00 to $235.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Zacks Research raised Cardinal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Wells Fargo & Company upped their price target on Cardinal Health from $237.00 to $256.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Finally, Argus increased their price target on Cardinal Health from $232.00 to $248.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $244.33.

Cardinal Health Stock Up 0.4%

Shares of NYSE CAH opened at $215.93 on Wednesday. The firm has a market cap of $50.81 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 1.38 and a beta of 0.64. Cardinal Health has a 52-week low of $124.73 and a 52-week high of $233.60. The business's 50 day moving average is $217.73 and its two-hundred day moving average is $199.91.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.31 by $0.32. The business had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 earnings per share. Analysts anticipate that Cardinal Health will post 7.95 EPS for the current fiscal year.

Institutional Trading of Cardinal Health

A number of institutional investors have recently bought and sold shares of CAH. SJS Investment Consulting Inc. raised its position in shares of Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company's stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cardinal Health in the 4th quarter valued at $26,000. Bank of Jackson Hole Trust acquired a new stake in Cardinal Health during the 4th quarter worth $27,000. Finally, Jones Financial Companies Lllp lifted its position in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock valued at $27,000 after acquiring an additional 14,034 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

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