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

Cardinal Health (NYSE:CAH) had its price objective increased by equities research analysts at Argus from $211.00 to $232.00 in a research note issued to investors on Friday,MarketScreener reports. The firm presently has a “buy” rating on the stock. Argus’ price target would indicate a potential upside of 11.39% from the stock’s previous close.

A number of other brokerages also recently commented on CAH. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $190.00 to $244.00 in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research note on Tuesday, November 18th. Leerink Partners set a $240.00 target price on Cardinal Health in a research report on Tuesday, January 13th. Robert W. Baird set a $250.00 price objective on Cardinal Health in a research note on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.07.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $208.29 on Friday. The firm’s 50 day simple moving average is $205.78 and its two-hundred day simple moving average is $176.18. The company has a market capitalization of $49.49 billion, a P/E ratio of 31.42, a P/E/G ratio of 1.40 and a beta of 0.65. Cardinal Health has a 1-year low of $120.72 and a 1-year high of $215.48.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.33. The firm had revenue of $64.01 billion for the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.The business’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, sell-side analysts anticipate that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. increased its position in shares of Cardinal Health by 0.5% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock valued at $1,902,000 after purchasing an additional 48 shares during the period. HF Advisory Group LLC boosted its holdings in Cardinal Health by 0.9% during the fourth quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock valued at $1,074,000 after purchasing an additional 49 shares in the last quarter. Latitude Advisors LLC boosted its holdings in shares of Cardinal Health by 2.1% in the 3rd quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock worth $408,000 after acquiring an additional 53 shares in the last quarter. Barnes Dennig Private Wealth Management LLC grew its holdings in shares of Cardinal Health by 38.7% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company’s stock valued at $39,000 after buying an additional 53 shares during the period. Finally, MFA Wealth Services lifted its holdings in Cardinal Health by 2.3% during the 3rd quarter. MFA Wealth Services now owns 2,491 shares of the company’s stock valued at $391,000 after purchasing an additional 55 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

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.