Cardinal Health (NYSE:CAH) Stock Price Target Raised at Mizuho

Cardinal Health (NYSE:CAH) had its price objective raised by equities researchers at Mizuho from $250.00 to $280.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 10.60% from the stock’s current price.

Several other analysts have also recently commented on CAH. Weiss Ratings upgraded Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Leerink Partners set a $292.00 price target on Cardinal Health in a research report on Tuesday, August 11th. Royal Bank Of Canada started coverage on Cardinal Health in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 price target for the company. Finally, UBS Group increased their price target on Cardinal Health from $280.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.38.

Cardinal Health Stock Down 0.4%

Shares of NYSE:CAH opened at $253.16 on Tuesday. The company has a market cap of $58.62 billion, a PE ratio of 35.02, a P/E/G ratio of 1.53 and a beta of 0.50. The company’s 50-day moving average price is $234.87 and its 200 day moving average price is $222.63. Cardinal Health has a fifty-two week low of $155.84 and a fifty-two week high of $258.30.

Cardinal Health (NYSE:CAH) last posted its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.49. The firm had revenue of $63.67 billion during the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. Cardinal Health’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities analysts anticipate that Cardinal Health will post 12.55 EPS for the current year.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Jessica Mayer sold 29,436 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the transaction, the insider directly owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. This trade represents a 47.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason Hollar sold 44,529 shares of Cardinal Health stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $236.18, for a total value of $10,516,859.22. Following the transaction, the chief executive officer owned 190,603 shares in the company, valued at approximately $45,016,616.54. This trade represents a 18.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 210,271 shares of company stock valued at $49,626,657 over the last three months. 0.12% of the stock is owned by company insiders.

Institutional Trading of Cardinal Health

Several institutional investors have recently modified their holdings of CAH. Focused Alpha LLC lifted its holdings in Cardinal Health by 6.4% in the 3rd quarter. Focused Alpha LLC now owns 2,900 shares of the company’s stock valued at $645,000 after acquiring an additional 175 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Cardinal Health by 2.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 33,457 shares of the company’s stock worth $7,444,000 after purchasing an additional 674 shares during the last quarter. Secure Asset Management LLC grew its stake in shares of Cardinal Health by 1.6% in the 3rd quarter. Secure Asset Management LLC now owns 4,422 shares of the company’s stock worth $984,000 after purchasing an additional 68 shares during the last quarter. Clark Financial Services Group Inc. BD raised its holdings in shares of Cardinal Health by 7.8% in the 3rd quarter. Clark Financial Services Group Inc. BD now owns 4,941 shares of the company’s stock worth $1,099,000 after purchasing an additional 356 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its holdings in shares of Cardinal Health by 1,562.5% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 133 shares of the company’s stock worth $30,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.