UBS Group Raises Cardinal Health (NYSE:CAH) Price Target to $134.00

Cardinal Health (NYSE:CAH) had its target price upped by equities researchers at UBS Group from $125.00 to $134.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 19.79% from the company’s previous close.

A number of other research firms also recently issued reports on CAH. Citigroup dropped their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Argus lifted their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.18.

Cardinal Health Stock Performance

CAH traded down $0.46 during trading on Tuesday, hitting $111.86. 84,935 shares of the stock were exchanged, compared to its average volume of 2,073,445. The firm has a 50 day simple moving average of $111.00 and a 200 day simple moving average of $103.91. The firm has a market cap of $27.25 billion, a price-to-earnings ratio of 49.72, a P/E/G ratio of 1.57 and a beta of 0.60. Cardinal Health has a 1 year low of $90.19 and a 1 year high of $116.05.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that Cardinal Health will post 7.61 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the transaction, the chief executive officer now owns 197,636 shares in the company, valued at approximately $21,546,276.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 over the last ninety days. 0.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $90,440,000. Acadian Asset Management LLC increased its holdings in Cardinal Health by 19.1% in the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after buying an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Cardinal Health in the first quarter worth about $56,454,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Cardinal Health by 265.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after acquiring an additional 477,682 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Cardinal Health during the 1st quarter valued at about $48,673,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Company Profile

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.