Leerink Partners Increases Cardinal Health (NYSE:CAH) Price Target to $275.00

Cardinal Health (NYSE:CAH) had its price objective hoisted by research analysts at Leerink Partners from $268.00 to $275.00 in a research note issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Leerink Partners’ price objective suggests a potential upside of 18.72% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Morgan Stanley set a $255.00 price target on Cardinal Health in a report on Friday, February 6th. Zacks Research raised Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, Argus lifted their target price on Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $231.65 on Monday. The stock has a market capitalization of $54.51 billion, a P/E ratio of 33.31, a PEG ratio of 1.48 and a beta of 0.65. The stock’s fifty day moving average is $214.08 and its 200 day moving average is $187.49. Cardinal Health has a 52 week low of $120.72 and a 52 week high of $232.97.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion during the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter in the prior year, the business posted $1.93 earnings per share. Cardinal Health’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts forecast that Cardinal Health will post 7.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Strategy Asset Managers LLC bought a new stake in shares of Cardinal Health during the 3rd quarter worth $775,000. Mirae Asset Global Investments Co. Ltd. raised its position in Cardinal Health by 15.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock valued at $5,938,000 after purchasing an additional 5,030 shares in the last quarter. Versor Investments LP purchased a new stake in Cardinal Health during the third quarter valued at about $2,090,000. Atle Fund Management AB lifted its stake in Cardinal Health by 13.1% during the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Candriam S.C.A. boosted its holdings in shares of Cardinal Health by 10.8% in the 3rd quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock worth $30,790,000 after purchasing an additional 19,155 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

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.