Robert W. Baird Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price target upped by Robert W. Baird from $197.00 to $203.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 34.99% from the company’s previous close.

Other analysts also recently issued reports about the stock. UBS Group reiterated a “buy” rating on shares of Cardinal Health in a research report on Tuesday. Jefferies Financial Group set a $150.00 price target on shares of Cardinal Health in a research report on Tuesday. Wells Fargo & Company reiterated an “overweight” rating and issued a $185.00 price target (up from $183.00) on shares of Cardinal Health in a research report on Wednesday. Leerink Partners set a $186.00 price target on shares of Cardinal Health and gave the company an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley restated an “overweight” rating on shares of Cardinal Health in a report on Tuesday. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.20.

Cardinal Health Trading Up 1.5%

Cardinal Health stock opened at $150.38 on Wednesday. The company has a market cap of $35.91 billion, a PE ratio of 23.31, a PEG ratio of 1.44 and a beta of 0.67. The company’s 50-day moving average is $159.73 and its two-hundred day moving average is $144.34. Cardinal Health has a 1 year low of $105.01 and a 1 year high of $168.44.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. Cardinal Health’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. Research analysts forecast that Cardinal Health will post 7.95 EPS for the current year.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Cardinal Health by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after acquiring an additional 205,539 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cardinal Health by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock worth $575,327,000 after acquiring an additional 1,193,983 shares in the last quarter. Norges Bank bought a new position in shares of Cardinal Health during the 2nd quarter worth approximately $584,420,000. Marshall Wace LLP grew its stake 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 acquiring an additional 1,913,892 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Cardinal Health by 3.5% during the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company’s stock worth $433,012,000 after acquiring an additional 105,154 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

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.