Bank of America Raises Cardinal Health (NYSE:CAH) Price Target to $155.00

Cardinal Health (NYSE:CAH) had its price objective raised by analysts at Bank of America from $150.00 to $155.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 17.74% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Mizuho lifted their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Argus set a $148.00 price target on Cardinal Health in a research report on Tuesday, February 4th. Morgan Stanley raised their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.86.

Cardinal Health Stock Performance

Shares of CAH opened at $131.65 on Friday. Cardinal Health has a one year low of $93.17 and a one year high of $139.50. The stock has a 50-day moving average price of $129.33 and a 200 day moving average price of $122.39. The company has a market capitalization of $31.80 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, equities research analysts forecast that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Institutional Trading of Cardinal Health

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Cardinal Health during the fourth quarter valued at about $246,748,000. Marshall Wace LLP raised its position in shares of Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock worth $372,756,000 after buying an additional 1,913,892 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of Cardinal Health in the 4th quarter worth approximately $141,963,000. GAMMA Investing LLC boosted its holdings in shares of Cardinal Health by 17,589.1% in the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company’s stock valued at $132,940,000 after acquiring an additional 959,486 shares in the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of Cardinal Health during the fourth quarter valued at approximately $92,811,000. Institutional investors own 87.17% of the company’s stock.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.