Cardinal Health (NYSE:CAH) Price Target Lowered to $190.00 at Evercore ISI

Key Points

• Evercore ISI has lowered the price target for Cardinal Health from $200.00 to $190.00, indicating a potential upside of 29.68% from the current stock price.
• Cardinal Health has received various ratings, with thirteen analysts giving it a "buy" rating and a consensus rating of "Moderate Buy" based on a target price of $163.20.
• The company reported earnings per share of $2.08 for the recent quarter, surpassing analysts' expectations, despite a decline in net margins.

Cardinal Health (NYSE:CAH - Get Free Report) had its price objective decreased by equities researchers at Evercore ISI from $200.00 to $190.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's price target indicates a potential upside of 29.68% from the company's current price.

Several other research firms have also weighed in on CAH. Wall Street Zen lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group reiterated a "buy" rating on shares of Cardinal Health in a report on Tuesday. Robert W. Baird increased their price target on Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a report on Wednesday. Morgan Stanley reaffirmed an "overweight" rating on shares of Cardinal Health in a research report on Tuesday. Finally, Leerink Partners set a $186.00 target price on shares of Cardinal Health and gave the company an "outperform" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.20.

Cardinal Health Price Performance

Shares of CAH stock opened at $146.51 on Wednesday. The stock has a market capitalization of $34.97 billion, a PE ratio of 22.86, a PEG ratio of 1.57 and a beta of 0.67. The business's 50 day simple moving average is $159.92 and its 200 day simple moving average is $144.18. Cardinal Health has a one year low of $100.80 and a one year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The firm had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. During the same quarter in the previous year, the company earned $1.84 EPS. The company's revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts expect that Cardinal Health will post 7.95 earnings per share for the current year.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Greykasell Wealth Strategies Inc. bought a new stake in Cardinal Health during the 1st quarter worth approximately $26,000. Jones Financial Companies Lllp boosted its position in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock valued at $27,000 after buying an additional 14,034 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in Cardinal Health by 75.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company's stock worth $29,000 after buying an additional 75 shares in the last quarter. Bellwether Advisors LLC purchased a new stake in Cardinal Health in the 4th quarter valued at $32,000. Finally, Tompkins Financial Corp lifted its stake in Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds 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.

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