Bank of America Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its price target hoisted by equities researchers at Bank of America from $240.00 to $260.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 8.02% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Monday, June 15th. Zacks Research cut shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Wells Fargo & Company lowered their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Robert W. Baird set a $248.00 target price on Cardinal Health in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $247.80.

Cardinal Health Trading Up 1.3%

NYSE CAH traded up $2.98 during midday trading on Thursday, hitting $240.70. The company had a trading volume of 259,003 shares, compared to its average volume of 1,973,891. The firm has a 50-day moving average price of $207.54 and a 200-day moving average price of $211.22. The company has a market capitalization of $56.37 billion, a PE ratio of 36.78, a P/E/G ratio of 1.30 and a beta of 0.48. Cardinal Health has a twelve month low of $137.75 and a twelve month high of $240.93.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.38. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The company had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same period in the prior year, the firm posted $2.35 EPS. Cardinal Health’s quarterly revenue was up 11.0% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, equities analysts anticipate that Cardinal Health will post 10.76 EPS for the current year.

Institutional Trading of Cardinal Health

A number of hedge funds have recently added to or reduced their stakes in the stock. Aventura Private Wealth LLC acquired a new stake in shares of Cardinal Health during the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cardinal Health during the fourth quarter valued at about $26,000. Bank of Jackson Hole Trust bought a new stake in shares of Cardinal Health during the fourth quarter worth about $27,000. Indiana Trust & Investment Management Co bought a new stake in shares of Cardinal Health during the first quarter worth about $29,000. Finally, Palladiem LLC acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

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.