Argus Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its price objective raised by Argus from $264.00 to $309.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Argus‘s price target points to a potential upside of 11.30% from the company’s previous close.

CAH has been the subject of several other research reports. Robert W. Baird boosted their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Wells Fargo & Company upped their target price on shares of Cardinal Health from $245.00 to $277.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 25th. Mizuho set a $290.00 price target on Cardinal Health in a research note on Thursday, November 5th. Finally, UBS Group lifted 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, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $279.44.

Cardinal Health Trading Up 0.3%

CAH stock opened at $277.63 on Thursday. The firm has a 50 day simple moving average of $242.85 and a 200-day simple moving average of $224.57. The company has a market capitalization of $64.17 billion, a P/E ratio of 35.92, a PEG ratio of 2.12 and a beta of 0.53. Cardinal Health has a twelve month low of $180.45 and a twelve month high of $286.29.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, November 5th. The company reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.32. The firm had revenue of $67.51 billion for the quarter, compared to analysts’ expectations of $66.67 billion. Cardinal Health had a net margin of 0.71% and a negative return on equity of 102.72%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 earnings per share. On average, research analysts predict that Cardinal Health will post 12.96 EPS for the current year.

Insider Activity at Cardinal Health

In other news, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the transaction, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Mary C. Scherer sold 2,302 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $237.39, for a total transaction of $546,471.78. Following the sale, the chief accounting officer directly owned 2,811 shares of the company’s stock, valued at approximately $667,303.29. This represents a 45.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 210,271 shares of company stock valued at $49,626,657 in the last ninety days. 0.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently bought and sold shares of CAH. Downshift Financial LLC lifted its holdings in Cardinal Health by 3,666.7% in the third quarter. Downshift Financial LLC now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 110 shares during the last quarter. Maryland Capital Advisors Inc. boosted its stake in Cardinal Health by 12,600.0% in the third quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock valued at $28,000 after acquiring an additional 126 shares during the period. Investors Research Corp bought a new position in shares of Cardinal Health during the second quarter valued at approximately $29,000. Allied Private Wealth LLC bought a new position in shares of Cardinal Health during the second quarter valued at approximately $30,000. Finally, Brown Lisle Cummings Inc. grew its holdings in shares of Cardinal Health by 1,562.5% during the third quarter. Brown Lisle Cummings Inc. now owns 133 shares of the company’s stock valued at $30,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers. The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations. Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.