Cardinal Health, Inc.’s Stock Price Soars to $96.14, Marking a Positive 1.47% Change

Cardinal Health, Inc. (CAH)

96.14 USD +1.39 (+1.47%) Volume: 1.72M

Cardinal Health, Inc.’s stock price stands strong at $96.14, witnessing a positive trading session with a rise of +1.47%. Despite a trading volume of 1.72M, the year-to-date performance shows a slight dip of -4.62%, reflecting the dynamic nature of the healthcare market.

Latest developments on Cardinal Health, Inc.

Cardinal Health (CAH) has been in the spotlight recently with key events shaping its stock price movements. Wall Street analysts have set a target price for CAH, indicating positive sentiment towards the company. Commerce Bank and Orion Portfolio Solutions LLC have acquired significant shares of Cardinal Health, further boosting investor confidence. Additionally, Clearbridge Investments LLC has taken a position in CAH, reflecting a bullish outlook on the stock. Baird’s raised target on Cardinal Health shares based on valuation methods suggests potential growth ahead. Despite a stock rating downgrade by StockNews.com, Cardinal Health remains a strong contender for investors looking for stability and growth in their portfolios.

Cardinal Health, Inc. on Smartkarma

Analysts on Smartkarma, like Baptista Research, are providing bullish coverage on Cardinal Health, Inc. The company’s recent financial performance in Q3 FY2024 showed broad-based growth, with a focus on strategic priorities leading to raised outlook for the fiscal year ’24. The pharmaceutical and specialty solutions business exhibited strong growth, supported by stability in pharmaceutical demand.

In another report, Baptista Research highlighted Cardinal Health‘s expansion through acquisitions, particularly the acquisition of Specialty Networks, as a key driver for the company’s specialty growth strategy. CEO Jason Hollar and CFO Aaron Alt expressed satisfaction with the progress made, showcasing strong profit growth and expected segment profit growth for fiscal 2024. Overall, analysts see Cardinal Health as a powerhouse behind today’s medical and pharmaceutical breakthroughs, with solid results and significant milestones achieved in recent quarters.

A look at Cardinal Health, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Cardinal Health‘s long-term outlook appears to be positive, with a strong focus on resilience according to Smartkarma Smart Scores. The company scores high in resilience, indicating its ability to withstand challenges and bounce back from setbacks. Additionally, Cardinal Health also receives decent scores in both dividend and growth categories, suggesting stability and potential for future expansion. While the company’s momentum score is relatively lower, its overall outlook seems promising based on these factors.

As a provider of healthcare products and services, Cardinal Health plays a crucial role in supporting healthcare providers and manufacturers. With a wide range of services including pharmaceutical distribution, healthcare product manufacturing, and drug delivery systems development, the company is well-positioned in the industry. The Smartkarma Smart Scores reflect Cardinal Health‘s strengths in resilience and its commitment to providing essential services to the healthcare sector. Overall, the company’s outlook remains positive, with a solid foundation for long-term growth and success.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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