Cardinal Health Inc. [CAH] stock Upgrade by BofA Securities analyst, price target now $80

Cardinal Health Inc. [NYSE: CAH] closed the trading session at $80.56 on 12/22/22. The day’s price range saw the stock hit a low of $79.62, while the highest price level was $80.90. The company report on December 19, 2022 that Cardinal Health Names Aaron Alt Chief Financial Officer.

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Cardinal Health (NYSE: CAH) and its board of directors announced today that Aaron Alt will become the company’s new chief financial officer (CFO). Alt will succeed interim CFO, Trish English and will report to CEO, Jason Hollar, as a member of the company’s Executive Committee effective Feb. 10.

In his capacity as CFO, Alt will lead financial activities across the enterprise, including Financial Strategy, Capital Deployment, Treasury, Tax, Investor Relations, Accounting, and Reporting. Additionally, he will lead the Corporate Development team.

The stocks have a year to date performance of 56.46 percent and weekly performance of 2.53 percent. The stock has been moved at 47.95 percent over the last six months. The stock has performed 2.12 percent around the most recent 30 days and changed 21.97 percent over the most recent 3-months.

If compared to the average trading volume of 3.16M shares, CAH reached to a volume of 1917028 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Cardinal Health Inc. [CAH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CAH shares is $80.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CAH stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Cardinal Health Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 04, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $70 to $76. The new note on the price target was released on August 22, 2022, representing the official price target for Cardinal Health Inc. stock. On May 18, 2022, analysts increased their price target for CAH shares from 55 to 68.

The Average True Range (ATR) for Cardinal Health Inc. is set at 1.59, with the Price to Sales ratio for CAH stock in the period of the last 12 months amounting to 0.11. Price to Free Cash Flow for CAH in the course of the last twelve months was 7.35 with Quick ratio for the last quarter at 0.50.

CAH stock trade performance evaluation

Cardinal Health Inc. [CAH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.53. With this latest performance, CAH shares gained by 2.12% in over the last four-week period, additionally plugging by 47.95% over the last 6 months – not to mention a rise of 60.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CAH stock in for the last two-week period is set at 59.38, with the RSI for the last a single of trading hit 61.57, and the three-weeks RSI is set at 59.02 for Cardinal Health Inc. [CAH]. The present Moving Average for the last 50 days of trading for this stock 76.85, while it was recorded at 79.75 for the last single week of trading, and 64.36 for the last 200 days.

Cardinal Health Inc. [CAH]: An insightful look at the core fundamentals

Cardinal Health Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 1.00.

Earnings per share (EPS) analysis for Cardinal Health Inc. [CAH] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CAH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cardinal Health Inc. go to 10.30%.

Cardinal Health Inc. [CAH]: Insider Ownership positions

There are presently around $19,204 million, or 93.00% of CAH stock, in the hands of institutional investors. The top three institutional holders of CAH stocks are: VANGUARD GROUP INC with ownership of 32,151,569, which is approximately -4.323% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 28,680,859 shares of the stock with an approximate value of $2.31 billion in CAH stocks shares; and STATE STREET CORP, currently with $1.64 billion in CAH stock with ownership of nearly -0.29% of the company’s market capitalization.

Positions in Cardinal Health Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 416 institutional holders increased their position in Cardinal Health Inc. [NYSE:CAH] by around 31,445,640 shares. Additionally, 372 investors decreased positions by around 27,831,519 shares, while 128 investors held positions by with 179,098,772 shares. The mentioned changes placed institutional holdings at 238,375,931 shares, according to the latest SEC report filing. CAH stock had 123 new institutional investments in for a total of 5,429,627 shares, while 64 institutional investors sold positions of 2,055,292 shares during the same period.


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