Cardinal Health (NYSE:CAH) Price Target Raised to $56.00 at JPMorgan Chase & Co.

Cardinal Health (NYSE:CAH) had its target price increased by JPMorgan Chase & Co. from $51.00 to $56.00 in a research note published on Friday, Stock Target Advisor reports. The firm currently has a neutral rating on the stock.

Several other analysts have also recently issued reports on the company. TheStreet cut Cardinal Health from a c+ rating to a d rating in a research note on Thursday. Argus cut Cardinal Health from a buy rating to a hold rating in a research note on Tuesday, August 27th. Guggenheim set a $55.00 price objective on Cardinal Health and gave the company a buy rating in a research note on Thursday, September 12th. ValuEngine upgraded Cardinal Health from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. Finally, Deutsche Bank initiated coverage on Cardinal Health in a research note on Thursday, September 12th. They set a hold rating and a $50.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $53.50.

NYSE CAH traded up $0.55 on Friday, hitting $53.75. 3,313,580 shares of the stock traded hands, compared to its average volume of 2,953,817. The stock has a 50-day moving average of $48.75 and a 200 day moving average of $46.39. Cardinal Health has a twelve month low of $41.03 and a twelve month high of $58.31. The company has a market capitalization of $15.06 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.32. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.18. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The firm had revenue of $37.34 billion for the quarter, compared to analysts’ expectations of $36.75 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Cardinal Health’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that Cardinal Health will post 4.99 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in CAH. Swedbank acquired a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $106,911,000. Invesco Ltd. raised its position in shares of Cardinal Health by 28.5% during the 2nd quarter. Invesco Ltd. now owns 8,150,786 shares of the company’s stock worth $383,901,000 after purchasing an additional 1,808,381 shares during the period. Nuveen Asset Management LLC raised its position in shares of Cardinal Health by 236.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,044,496 shares of the company’s stock worth $96,296,000 after purchasing an additional 1,436,412 shares during the period. Macquarie Group Ltd. raised its position in shares of Cardinal Health by 5.3% during the 2nd quarter. Macquarie Group Ltd. now owns 14,736,537 shares of the company’s stock worth $694,090,000 after purchasing an additional 742,724 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Cardinal Health by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 35,800,690 shares of the company’s stock worth $1,686,212,000 after purchasing an additional 622,563 shares during the period. Institutional investors and hedge funds own 90.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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