Credit Suisse Group raises its price target on Cardinal Health (NYSE:CAH) to $79.00.
According to The Fly, analysts at Credit Suisse Group raised their price target for Cardinal Health (NYSE:CAH) from $64.00 to $79.00 in a note to investors on Tuesday. The previous price target was $65.00. Compared to the price the stock is currently trading at, Credit Suisse Group’s price target points to a possible upside of 1.65%.
There have been other articles written about the stock by stock research experts. UBS Group raised its price target on Cardinal Health stock from $61.00 to $78.00 and gave the company a “buy” rating in a research report released Monday, August 29. On Friday, November 11, Cardinal Health shares were given a “strong buy” rating by StockNews.com, an improvement from the previous “buy” rating. Evercore ISI raised its price target on Cardinal Health stock to $75.00 in a research note released Monday, August 15. Cowen raised his price target on Cardinal Health from $59.00 to $72.00 and gave the stock a “market performance” rating in a report released Tuesday, August 16. Mizuho raised its price target on Cardinal Health from $60.00 to $70.00 and gave the company a “neutral” rating in a research report released on Monday, November 14. Eight research analysts gave the stock a hold rating, three gave it a buy rating, and one has a strong buy rating. According to data provided by Bloomberg, the stock is currently assigned a “Hold” recommendation, and analysts have expected its price to hit $76.45 shortly.
CAH’s stock price was $77.72 when trading began on Tuesday. The company’s market cap currently sits at $20.37 billion, while its PE ratio is 12.70, PEG ratio is 1.32, and beta is 0.80. Cardinal Health’s price has been as low as $45.85 and as high as $81.57 over the past year. The stock’s moving average over the last fifty days is $71.78; the moving average over the past 200 days is $63.47.
On Monday, Nov. 7, insider Ola M. Snow sold 19,590 shares of Cardinal Health, as reported in other Cardinal Health news. The shares were sold for a total of $1,545,063.30, which corresponds to an average price of $78.87 per share. As a result of the transaction, the insider of the company now directly owns 31,187 shares of the company, which have a combined value of approximately $2,459,718.69. You can learn more about the transaction from a legal filing submitted to the Securities and Exchange Commission, which can be found here. The total number of shares held by insiders of the company is 0.17%.
Recent months have seen either an increase or a decrease in the total amount of CAH assets held by institutional investors and hedge funds. Liberty One Investment Management LLC increased its stake in Cardinal Health by 16.6% during the third quarter of this fiscal year. Liberty One Investment Management LLC now owns 352,738 shares of the company after purchasing an additional 50,285 shares in the last quarter. The value of the company’s shares held by Liberty One Investment Management LLC is $23,521,000. Additionally, Glenmede Trust Co. NA increased its stake in Cardinal Health by 111.7% during the third quarter of the year. Following the acquisition of an additional 11,128 shares during the period in question, Glenmede Trust Co., NA, now owns a total of 21,089 shares of the company, valued at $1,405,000. At the end of the third quarter, Captrust Financial Advisors held a stake in Cardinal Health that was 23.6% larger than before. Following the acquisition of 6,090 additional shares in the previous quarter, Captrust Financial Advisors now owns 31,918 shares of the company, with a market value of $2,128,000. In the third quarter, Cardinal Health reported a 4.9% increase in revenue, as reported by the Kentucky Retirement Systems Insurance Trust Fund. Following the acquisition of 456 additional shares in the previous quarter, the Kentucky Retirement Systems Insurance Trust Fund now owns 9,763 shares of the company, or $651.00. Finally, during the third quarter, Kentucky Retirement Systems’ holdings of Cardinal Health shares increased 5.5% as the investment company purchased additional shares. After making an additional purchase of 1,106 shares in the previous quarter, Kentucky Retirement Systems now owns a total of 21,325 shares of the company, or $1,422,000. The shares of the company are held by hedge funds and other types of institutional investors at 85.07%.
Cardinal Health, Inc. is a healthcare services provider that operates globally, with locations in the United States of America, Canada, Europe, Asia and other regions. It provides individualized solutions to healthcare facilities such as hospitals and health systems, pharmacies, ambulatory surgery centers, clinical laboratories, medical offices and home patients.