On May 8, 2023, Citigroup analyst Daniel Grosslight maintained a Neutral rating on Cardinal Health (NYSE:CAH) while increasing the price target from $77 to $88. The average one-year price target for Cardinal Health stands at $87.32, with forecasts ranging from a low of $76.76 to a high of $98.70.
Cardinal Health is projected to experience a 4.28% increase in annual revenue, bringing it to $201,265MM. Additionally, the projected yearly non-GAAP EPS is $5.37.
As a healthcare services and products company, Cardinal Health provides tailored solutions to hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceuticals, specialty pharmaceuticals, and over-the-counter healthcare and consumer products. In contrast, the Medical segment manufactures, sources, and distributes Cardinal Health-branded medical, surgical, and laboratory products.
Cardinal Health’s stock price closed at $80.83, marking a 2.02% increase in the last month and a 38.72% increase in the previous 12 months.
Cardinal Health Inc. Shows Steady Revenue Growth, Low Trading Volume on May 8, 2023
On May 8, 2023, Cardinal Health Inc. (CAH) opened at $83.25 and fluctuated within a narrow range throughout the day. The trading volume was relatively low, with only 269,328 shares traded. Cardinal Health’s market capitalization is currently $21.2 billion, and the company has shown revenue growth of 11.62% in the past year. Its earnings growth this year is projected to be at a positive 12.02%, with an expected earnings growth of 15.01% over the next five years. However, Cardinal Health’s earnings growth last year was negative 259.81%, and its net profit margin is currently negative 0.51%. Cardinal Health operates in the medical distributor industry within the distribution services sector and is headquartered in Dublin, Ohio. The following reporting date for Cardinal Health is August 10, 2023, and the company is expected to report an earnings per share forecast of $1.48 for the current quarter. Cardinal Health reported annual revenue of $181.4 billion last year.
Cardinal Health Inc (CAH) Stock Performance Sees Potential Increase of +7.78% According to Analysts Price Forecasts
On May 8, 2023, Cardinal Health Inc (CAH) saw a slight increase in its stock performance, with the last price of 83.50. However, according to the 15 analysts offering 12-month price forecasts, the median target for the stock is 90.00, with a high estimate of 97.00 and a low estimate of 76.00. This indicates a potential increase of +7.78% from the current price.
Source: beststocks.com
