Citigroup Increases Cardinal Health (NYSE:CAH) Price Target to $129.00

Cardinal Health (NYSE:CAH) had its target price boosted by Citigroup from $120.00 to $129.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 5.47% from the stock’s previous close.

CAH has been the subject of a number of other research reports. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $101.00 to $127.00 in a research report on Friday, December 13th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $144.00 in a research note on Wednesday. UBS Group upped their price objective on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Finally, Barclays increased their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Stock Performance

Cardinal Health stock traded down $0.22 during midday trading on Friday, hitting $122.31. 888,458 shares of the company’s stock were exchanged, compared to its average volume of 2,078,087. The firm’s 50 day simple moving average is $119.77 and its 200 day simple moving average is $110.84. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $126.23. The stock has a market cap of $29.60 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. On average, equities research analysts forecast that Cardinal Health will post 7.82 EPS for the current fiscal year.

Institutional Trading of Cardinal Health

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eastern Bank acquired a new stake in shares of Cardinal Health in the third quarter worth approximately $25,000. Frazier Financial Advisors LLC boosted its holdings in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health during the 2nd quarter worth $29,000. Hara Capital LLC purchased a new position in shares of Cardinal Health in the 3rd quarter worth $31,000. Finally, AM Squared Ltd acquired a new position in Cardinal Health in the third quarter valued at $33,000. 87.17% of the stock is 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.