JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price target lifted by analysts at JPMorgan Chase & Co. from $132.00 to $142.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 9.96% from the company’s current price.

A number of other analysts also recently issued reports on CAH. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $101.00 to $127.00 in a report on Friday, December 13th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Citigroup increased their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $134.64.

Cardinal Health Trading Down 0.1 %

Shares of NYSE:CAH traded down $0.17 during mid-day trading on Friday, hitting $129.13. 328,427 shares of the company traded hands, compared to its average volume of 1,895,174. The stock has a 50-day moving average price of $121.15 and a two-hundred day moving average price of $112.70. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $129.68. The stock has a market cap of $31.25 billion, a P/E ratio of 25.12, a P/E/G ratio of 1.57 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the previous year, the firm earned $1.73 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, analysts expect that Cardinal Health will post 7.82 earnings per share for the current year.

Institutional Trading of Cardinal Health

Several institutional investors have recently added to or reduced their stakes in CAH. DAVENPORT & Co LLC increased its holdings in Cardinal Health by 3.3% during the 4th quarter. DAVENPORT & Co LLC now owns 5,740 shares of the company’s stock valued at $679,000 after purchasing an additional 182 shares during the period. Independence Bank of Kentucky increased its stake in shares of Cardinal Health by 12,800.0% during the fourth quarter. Independence Bank of Kentucky now owns 3,225 shares of the company’s stock valued at $381,000 after buying an additional 3,200 shares during the period. Oak Harvest Investment Services bought a new position in shares of Cardinal Health during the fourth quarter valued at approximately $2,130,000. Mediolanum International Funds Ltd lifted its stake in Cardinal Health by 7.9% in the fourth quarter. Mediolanum International Funds Ltd now owns 54,854 shares of the company’s stock worth $6,452,000 after acquiring an additional 4,001 shares during the period. Finally, Sivik Global Healthcare LLC lifted its stake in Cardinal Health by 11.1% in the fourth quarter. Sivik Global Healthcare LLC now owns 50,000 shares of the company’s stock worth $5,914,000 after acquiring an additional 5,000 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

About Cardinal Health

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.