Cardinal Health (NYSE:CAH) Price Target Raised to $56.00 at JPMorgan Chase & Co.

Cardinal Health (NYSE:CAH) had its price target lifted by JPMorgan Chase & Co. from $51.00 to $56.00 in a research note published on Friday morning, Stock Target Advisor reports. The firm currently has a neutral rating on the stock.

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CAH has been the subject of a number of other research reports. Guggenheim set a $55.00 target price on Cardinal Health and gave the company a buy rating in a report on Thursday, September 12th. TheStreet lowered Cardinal Health from a c+ rating to a d rating in a report on Thursday. Argus lowered Cardinal Health from a buy rating to a hold rating in a report on Tuesday, August 27th. Deutsche Bank began coverage on Cardinal Health in a report on Thursday, September 12th. They issued a hold rating and a $50.00 target price for the company. Finally, ValuEngine upgraded Cardinal Health from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Cardinal Health presently has an average rating of Hold and an average price target of $53.50.

Shares of NYSE:CAH traded up $0.55 on Friday, reaching $53.75. 3,313,580 shares of the company traded hands, compared to its average volume of 2,953,817. Cardinal Health has a fifty-two week low of $41.03 and a fifty-two week high of $58.31. The company’s 50 day moving average is $48.75 and its 200-day moving average is $46.39. The stock has a market capitalization of $15.06 billion, a PE ratio of 10.18, a P/E/G ratio of 1.72 and a beta of 1.32. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.07 and a quick ratio of 0.54.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The company had revenue of $37.34 billion during the quarter, compared to the consensus estimate of $36.75 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts expect that Cardinal Health will post 4.99 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAH. Larson Financial Group LLC purchased a new stake in shares of Cardinal Health during the third quarter worth $28,000. Advantage Investment Management LLC purchased a new stake in shares of Cardinal Health during the third quarter worth $31,000. Financial Gravity Wealth Inc. raised its holdings in shares of Cardinal Health by 258.5% during the second quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock worth $33,000 after acquiring an additional 499 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of Cardinal Health during the second quarter worth $36,000. Finally, NuWave Investment Management LLC raised its holdings in shares of Cardinal Health by 358.1% during the third quarter. NuWave Investment Management LLC now owns 765 shares of the company’s stock worth $35,000 after acquiring an additional 598 shares in the last quarter. Institutional investors own 90.17% of the company’s stock.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Analyst Recommendations for Cardinal Health (NYSE:CAH)

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