Cardinal Health (NYSE:CAH) Price Target Cut to $105.00

Cardinal Health (NYSE:CAH) had its price target dropped by equities research analysts at Evercore ISI from $115.00 to $105.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 9.84% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company cut their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Argus cut their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Robert W. Baird boosted their target price on shares of Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.00.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $95.59 on Tuesday. Cardinal Health has a one year low of $85.11 and a one year high of $116.04. The stock has a fifty day moving average of $98.78 and a 200-day moving average of $104.19. The company has a market capitalization of $23.28 billion, a PE ratio of 42.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts forecast that Cardinal Health will post 7.35 EPS for the current fiscal year.

Institutional Trading of Cardinal Health

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC raised its holdings in shares of Cardinal Health by 2.8% during the second quarter. CWM LLC now owns 12,500 shares of the company’s stock worth $1,229,000 after acquiring an additional 345 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Cardinal Health by 168.5% during the second quarter. Park Avenue Securities LLC now owns 17,657 shares of the company’s stock valued at $1,736,000 after buying an additional 11,082 shares in the last quarter. New England Research & Management Inc. bought a new position in Cardinal Health during the second quarter valued at about $396,000. Mather Group LLC. raised its holdings in Cardinal Health by 20.7% during the second quarter. Mather Group LLC. now owns 6,685 shares of the company’s stock valued at $657,000 after buying an additional 1,146 shares in the last quarter. Finally, Burns Matteson Capital Management LLC bought a new position in Cardinal Health during the second quarter valued at about $313,000. 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.