Cardinal Health (NYSE:CAH) Price Target Raised to $180.00

Cardinal Health (NYSE:CAH - Get Free Report) had its target price lifted by Evercore ISI from $175.00 to $180.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Evercore ISI's price objective indicates a potential upside of 11.42% from the company's previous close.

CAH has been the topic of several other reports. Bank of America boosted their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday. Morgan Stanley increased their price target on Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. UBS Group upped their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Citigroup reissued a "neutral" rating on shares of Cardinal Health in a report on Thursday, May 1st. Finally, Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $156.36.

Cardinal Health Price Performance

Cardinal Health stock traded up $1.03 during mid-day trading on Thursday, reaching $161.55. 171,109 shares of the stock traded hands, compared to its average volume of 2,217,616. The stock has a market capitalization of $38.56 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The business's 50-day moving average is $145.31 and its 200-day moving average is $132.35. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $162.23.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. During the same period in the prior year, the company earned $2.08 earnings per share. The firm's revenue was up .0% on a year-over-year basis. Equities analysts anticipate that Cardinal Health will post 7.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

Institutional investors have recently modified their holdings of the stock. Greykasell Wealth Strategies Inc. bought a new position in Cardinal Health during the 1st quarter worth about $26,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Cardinal Health in the 4th quarter worth approximately $26,000. Tompkins Financial Corp boosted its stake in shares of Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after purchasing an additional 128 shares in the last quarter. Promus Capital LLC purchased a new position in Cardinal Health during the fourth quarter valued at approximately $30,000. Finally, Bellwether Advisors LLC bought a new position in Cardinal Health in the fourth quarter worth approximately $32,000. 87.17% of the stock is owned by hedge funds and other 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.