Are Wall Street Analysts Bullish on Cardinal Health Stock?

With a market cap of $55.7 billion, Cardinal Health, Inc. (CAH) is a global healthcare services and products company that distributes pharmaceuticals, specialty medications, and medical and laboratory products while providing home-health, direct-to-patient, and nuclear pharmacy services. With a strong customer-centric approach, the company drives continuous innovation and delivers solutions that enhance healthcare efficiency and improve people's lives every day.

Shares of the prescription drug distributor have outperformed the broader market over the past 52 weeks. CAH stock has climbed 55.5% over this time frame, while the broader S&P 500 Index ($SPX) has increased 22.1%. Moreover, the stock has gained 16.1% on a YTD basis, compared to SPX's 13.1% rise.

Looking closer, shares of the Dublin, Ohio-based company have outpaced the State Street Health Care Select Sector SPDR ETF's (XLV) 27.6% return over the past 52 weeks.

Despite reporting better-than-expected Q3 2026 adjusted EPS of $3.17, Cardinal Health shares fell 4.9% on Apr. 30 after the company reported revenue of $60.9 billion and revenue from its Pharmaceutical and Specialty Solutions segment came in at $56.1 billion, both missing Wall Street expectations. Pharmaceutical sales were also impacted by Inflation Reduction Act-related pricing changes that reduced the wholesale acquisition costs of drugs. 

Additionally, the company disclosed it had incurred about $200 million in tariff costs, contributing to a 36% decline in profit in its Global Medical Products and Distribution segment to $25 million, overshadowing its raised full-year adjusted EPS guidance of $10.70 - $10.80.

For the fiscal year, which ended in June 2026, analysts expect CAH's adjusted EPS to grow 30.7% year-over-year to $10.77. The company's earnings surprise history is promising. It beat the consensus estimates in each of the last four quarters. 

Among the 17 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 14 “Strong Buy” ratings and three “Holds.” 

This configuration is slightly less bullish than three months ago, with 15 “Strong Buy” ratings on the stock.

On Apr. 30, BofA cut its price target for Cardinal Health to $240 while maintaining a Buy rating.

The mean price target of $253.50 represents a 5.8% premium to CAH’s current price levels. The Street-high price target of $275 suggests a 14.8% potential upside.