Citigroup Reiterates “Neutral” Rating for Cardinal Health (NYSE:CAH)

Cardinal Health (NYSE:CAH)‘s stock had its “neutral” rating reaffirmed by stock analysts at Citigroup in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $170.00 target price on the stock, up from their previous target price of $157.00. Citigroup’s price objective indicates a potential upside of 4.48% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley raised their target price on shares of Cardinal Health from $142.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Robert W. Baird increased their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. UBS Group boosted their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Finally, Evercore ISI lifted their price objective on shares of Cardinal Health from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

Cardinal Health Stock Performance

Shares of NYSE CAH traded up $1.31 during mid-day trading on Friday, hitting $162.72. 583,739 shares of the stock were exchanged, compared to its average volume of 2,224,538. The stock’s fifty day simple moving average is $146.04 and its two-hundred day simple moving average is $132.76. The company has a market cap of $38.84 billion, a P/E ratio of 30.35, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $163.06.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 EPS. As a group, equities research analysts predict that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Cardinal Health by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company’s stock valued at $691,145,000 after buying an additional 109,273 shares during the period. JPMorgan Chase & Co. grew its holdings in Cardinal Health by 40.0% in the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock worth $575,327,000 after purchasing an additional 1,193,983 shares during the period. Invesco Ltd. grew its holdings in Cardinal Health by 4.6% in the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company’s stock worth $376,396,000 after purchasing an additional 140,368 shares during the period. Marshall Wace LLP grew its holdings in Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock worth $372,756,000 after purchasing an additional 1,913,892 shares during the period. Finally, Northern Trust Corp grew its holdings in Cardinal Health by 3.5% in the first quarter. Northern Trust Corp now owns 3,143,003 shares of the company’s stock worth $433,012,000 after purchasing an additional 105,154 shares during the period. 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.