Bank of America Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its price target hoisted by research analysts at Bank of America from $240.00 to $260.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 8.02% from the company’s previous close.

A number of other brokerages have also recently issued reports on CAH. Wells Fargo & Company dropped their target price on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Leerink Partners reissued an “outperform” rating and set a $275.00 price target on shares of Cardinal Health in a research report on Monday, March 9th. Zacks Research cut Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Citigroup reissued a “buy” rating on shares of Cardinal Health in a report on Thursday. Finally, Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Monday, June 15th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.80.

Cardinal Health Stock Performance

CAH traded up $2.98 on Thursday, hitting $240.70. 259,003 shares of the company were exchanged, compared to its average volume of 1,973,891. The stock’s fifty day moving average is $207.54 and its 200-day moving average is $211.22. Cardinal Health has a 12 month low of $137.75 and a 12 month high of $240.93. The company has a market cap of $56.37 billion, a PE ratio of 36.78, a PEG ratio of 1.30 and a beta of 0.48.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. The firm had revenue of $60.94 billion during the quarter, compared to the consensus estimate of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities research analysts expect that Cardinal Health will post 10.76 EPS for the current fiscal year.

Institutional Trading of Cardinal Health

Hedge funds have recently added to or reduced their stakes in the company. PVG Asset Management Corp bought a new position in Cardinal Health during the 2nd quarter worth $226,000. Sapient Capital LLC bought a new stake in shares of Cardinal Health in the first quarter valued at about $534,000. Pacer Advisors Inc. grew its stake in shares of Cardinal Health by 14.7% in the first quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock valued at $330,728,000 after acquiring an additional 200,021 shares in the last quarter. Farmers National Bank bought a new position in Cardinal Health during the first quarter worth about $233,000. Finally, DV Trading LLC increased its position in Cardinal Health by 162.0% during the first quarter. DV Trading LLC now owns 1,048 shares of the company’s stock worth $221,000 after acquiring an additional 648 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.