Cardinal Health (NYSE:CAH) Given New $155.00 Price Target at Bank of America

Cardinal Health (NYSE:CAH) had its price objective raised by research analysts at Bank of America from $150.00 to $155.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 17.74% from the stock’s previous close.

CAH has been the subject of several other reports. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a report on Tuesday, January 7th. Argus set a $148.00 price target on shares of Cardinal Health in a report on Tuesday, February 4th. Morgan Stanley raised their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.86.

Cardinal Health Price Performance

Shares of CAH opened at $131.65 on Friday. The firm’s 50 day moving average is $129.33 and its 200-day moving average is $122.39. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $139.50. The stock has a market capitalization of $31.80 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, equities research analysts forecast that Cardinal Health will post 7.95 EPS for the current fiscal year.

Institutional Trading of Cardinal Health

Several institutional investors have recently modified their holdings of CAH. Barclays PLC boosted its stake in Cardinal Health by 8.2% during the third quarter. Barclays PLC now owns 707,404 shares of the company’s stock worth $78,183,000 after buying an additional 53,851 shares in the last quarter. M&T Bank Corp increased its stake in Cardinal Health by 43.2% in the third quarter. M&T Bank Corp now owns 28,326 shares of the company’s stock valued at $3,131,000 after acquiring an additional 8,544 shares during the period. Geode Capital Management LLC increased its stake in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the period. Toronto Dominion Bank raised its position in Cardinal Health by 1.5% in the third quarter. Toronto Dominion Bank now owns 120,461 shares of the company’s stock worth $13,313,000 after purchasing an additional 1,727 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in Cardinal Health by 27.6% during the third quarter. TD Private Client Wealth LLC now owns 15,950 shares of the company’s stock worth $1,763,000 after purchasing an additional 3,449 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.