Argus Trims Cardinal Health (NYSE:CAH) Target Price to $115.00

Cardinal Health (NYSE:CAH - Get Free Report) had its target price reduced by stock analysts at Argus from $120.00 to $115.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Argus' target price points to a potential upside of 18.42% from the stock's previous close.

Several other analysts have also recently commented on CAH. Leerink Partnrs reaffirmed an "outperform" rating on shares of Cardinal Health in a research note on Monday, February 26th. Wells Fargo & Company decreased their price objective on Cardinal Health from $96.00 to $94.00 and set an "underweight" rating on the stock in a report on Monday, April 29th. Robert W. Baird dropped their target price on Cardinal Health from $134.00 to $128.00 and set an "outperform" rating for the company in a research note on Friday, May 3rd. StockNews.com lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 10th. Finally, Evercore ISI upped their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the company an "in-line" rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $107.57.

Cardinal Health Trading Down 0.3 %

Shares of NYSE CAH traded down $0.32 during trading on Wednesday, reaching $97.11. The company had a trading volume of 1,657,846 shares, compared to its average volume of 2,247,492. The stock has a market capitalization of $23.65 billion, a PE ratio of 43.44, a price-to-earnings-growth ratio of 1.11 and a beta of 0.71. Cardinal Health has a twelve month low of $80.90 and a twelve month high of $116.04. The stock has a 50-day moving average price of $107.23 and a two-hundred day moving average price of $105.46.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the previous year, the company posted $1.74 EPS. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Cardinal Health will post 7.35 EPS for the current year.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds have recently modified their holdings of CAH. Clearstead Trust LLC acquired a new stake in Cardinal Health in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC acquired a new stake in Cardinal Health during the 3rd quarter valued at $26,000. Raleigh Capital Management Inc. increased its stake in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company's stock worth $28,000 after buying an additional 268 shares during the period. BKM Wealth Management LLC acquired a new position in Cardinal Health in the 4th quarter worth $30,000. Finally, YHB Investment Advisors Inc. purchased a new position in Cardinal Health in the 1st quarter valued at about $32,000. 87.17% of the stock is currently owned by hedge funds and other 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.