Cardinal Health stock soars to all-time high of $132.92

Cardinal Health Inc (NYSE:CAH). shares have reached an unprecedented peak, touching an all-time high of $132.92. This milestone underscores a period of robust performance for the healthcare services company, which has seen its stock value climb significantly with a 20.28% return over the past year. The company, now valued at $32.08 billion, has demonstrated strong momentum with a 12.19% gain year-to-date. According to InvestingPro analysis, Cardinal Health appears slightly undervalued at current levels. Investors have been buoyed by the company’s strong financial health and strategic growth initiatives. Notable achievements include maintaining dividend payments for 43 consecutive years, while earning an overall "GREAT" financial health rating from InvestingPro, which offers 12 additional exclusive insights about Cardinal Health’s performance and outlook. The surge to record levels reflects growing confidence in Cardinal Health’s market position and its ability to navigate the complex healthcare landscape effectively.

In other recent news, Cardinal Health reported its second-quarter earnings for fiscal year 2024, surpassing analyst expectations with an earnings per share (EPS) of $1.93 compared to the forecasted $1.77. The company also exceeded revenue projections, reaching $55.3 billion against a forecast of $54.56 billion. Following these strong earnings results, Jefferies analyst Brian Tanquilut upgraded Cardinal Health’s stock from Hold to Buy, with a new price target of $150, citing the company’s impressive track record in earnings per share growth. In addition to financial performance, Cardinal Health has expanded its Board of Directors by appointing two new independent directors, Robert Musslewhite and Sudhakar Ramakrishna, to enhance its focus on advanced analytics and cybersecurity. The company also raised its full-year EPS guidance to a range of $7.85 to $8.00, reflecting confidence in continued growth. Furthermore, Cardinal Health is making strategic investments in automation and domestic manufacturing, signaling a focus on long-term operational efficiency. These developments indicate that Cardinal Health is actively positioning itself to navigate the evolving healthcare landscape.

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