Morgan Stanley Increases Cardinal Health (NYSE:CAH) Price Target to $136.00

Cardinal Health (NYSE:CAH) had its price target increased by equities researchers at Morgan Stanley from $127.00 to $136.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 17.33% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $101.00 to $127.00 in a report on Friday, December 13th. Mizuho began coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.50.

Cardinal Health Price Performance

CAH opened at $115.91 on Tuesday. The business has a 50 day moving average price of $117.31 and a two-hundred day moving average price of $108.83. The company has a market capitalization of $28.05 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $126.23.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Equities analysts expect that Cardinal Health will post 7.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CAH. Paragon Capital Management Inc. boosted its holdings in Cardinal Health by 0.7% in the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after purchasing an additional 99 shares in the last quarter. Midland Wealth Advisors LLC boosted its stake in shares of Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of Cardinal Health by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after acquiring an additional 100 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in Cardinal Health by 0.9% in the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.