Cardinal Health (NYSE:CAH) Price Target Cut to $128.00 by Analysts at Robert W. Baird

Cardinal Health (NYSE:CAH) had its target price dropped by investment analysts at Robert W. Baird from $134.00 to $128.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 29.41% from the stock’s previous close.

Several other equities research analysts have also commented on CAH. SVB Leerink assumed coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, UBS Group upped their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $105.79.

Cardinal Health Stock Down 4.0 %

Shares of NYSE CAH opened at $98.91 on Friday. The business’s 50 day moving average price is $109.10 and its 200 day moving average price is $105.01. The firm has a market cap of $24.06 billion, a P/E ratio of 43.96, a P/E/G ratio of 1.03 and a beta of 0.71. Cardinal Health has a 52 week low of $77.56 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 earnings per share. As a group, research analysts expect that Cardinal Health will post 7.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAH. Ameriprise Financial Inc. grew its holdings in Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after buying an additional 1,862,291 shares in the last quarter. Northern Trust Corp grew its holdings in Cardinal Health by 0.9% in the 3rd quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock valued at $290,026,000 after buying an additional 28,412 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Cardinal Health by 17.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock valued at $264,052,000 after buying an additional 389,431 shares in the last quarter. Norges Bank purchased a new stake in Cardinal Health in the 4th quarter valued at $258,499,000. Finally, AQR Capital Management LLC grew its holdings in Cardinal Health by 0.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock valued at $216,749,000 after buying an additional 19,287 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

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.