JPMorgan Chase & Co. Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its price target raised by analysts at JPMorgan Chase & Co. from $132.00 to $142.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 10.17% from the company’s current price.

CAH has been the subject of a number of other reports. Barclays boosted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. UBS Group upped their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a report on Tuesday, January 7th. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $101.00 to $127.00 in a research note on Friday, December 13th. Finally, Morgan Stanley lifted their price target on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.64.

Cardinal Health Stock Down 0.3 %

Cardinal Health stock opened at $128.89 on Friday. The stock’s 50 day moving average is $121.36 and its 200 day moving average is $113.04. The company has a market capitalization of $31.19 billion, a P/E ratio of 25.08, a PEG ratio of 1.57 and a beta of 0.63. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $129.68.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results 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. The company had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 EPS. As a group, equities analysts expect that Cardinal Health will post 7.82 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after purchasing an additional 627,253 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after buying an additional 191,568 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after buying an additional 33,388 shares during the period. Finally, Brandes Investment Partners LP raised its holdings in Cardinal Health by 10.1% during the second quarter. Brandes Investment Partners LP now owns 1,315,316 shares of the company’s stock valued at $129,439,000 after acquiring an additional 121,107 shares during the period. 87.17% of the stock is 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.