Cardinal Health (NYSE:CAH) Price Target Cut to $94.00 by Analysts at Wells Fargo & Company

Cardinal Health (NYSE:CAH - Get Free Report) had its target price dropped by Wells Fargo & Company from $96.00 to $94.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential downside of 8.67% from the company's current price.

A number of other analysts have also recently weighed in on the company. StockNews.com cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 24th. SVB Leerink started coverage on shares of Cardinal Health in a report on Monday, February 26th. They issued an "outperform" rating and a $125.00 price objective on the stock. Barclays assumed coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They issued an "overweight" rating and a $117.00 price objective on the stock. UBS Group upped their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, February 5th. Finally, Leerink Partnrs reaffirmed an "outperform" rating on shares of Cardinal Health in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and an average target price of $102.93.

Cardinal Health Price Performance

Shares of CAH stock traded down $0.28 on Monday, hitting $102.93. 1,690,841 shares of the stock traded hands, compared to its average volume of 2,247,387. The company's fifty day moving average is $109.48 and its 200 day moving average is $104.93. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04. The company has a market capitalization of $25.03 billion, a PE ratio of 40.52, a PEG ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion for the quarter, compared to analysts' expectations of $57.02 billion. During the same period in the prior year, the company earned $1.32 earnings per share. The firm's revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Cardinal Health will post 7.28 EPS for the current year.

Institutional Trading of Cardinal Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clearstead Trust LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $25,000. Cornerstone Planning Group LLC acquired a new position in shares of Cardinal Health in the third quarter worth about $26,000. Raleigh Capital Management Inc. increased its position in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company's stock worth $28,000 after acquiring an additional 268 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth approximately $30,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Cardinal Health during the first quarter valued at approximately $32,000. 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.