Morgan Stanley Increases Cardinal Health (NYSE:CAH) Price Target to $127.00

Cardinal Health (NYSE:CAH) had its target price lifted by Morgan Stanley from $119.00 to $127.00 in a research note released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, August 16th. UBS Group upped their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday. Citigroup lowered their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Mizuho boosted their price target on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Robert W. Baird raised their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Price Performance

NYSE:CAH opened at $115.58 on Monday. The business’s 50-day moving average is $111.86 and its two-hundred day moving average is $104.23. The firm has a market capitalization of $27.97 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $119.13.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $1.73 EPS. Equities analysts anticipate that Cardinal Health will post 7.69 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.75%. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Insider Buying and Selling

In other news, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the transaction, the chief executive officer now directly owns 244,091 shares in the company, valued at approximately $26,574,187.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares in the company, valued at $10,065,447.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 over the last ninety days. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Cardinal Health

Institutional investors have recently modified their holdings of the company. Gladius Capital Management LP lifted its position in Cardinal Health by 23.0% in the 3rd quarter. Gladius Capital Management LP now owns 10,013 shares of the company’s stock valued at $1,107,000 after purchasing an additional 1,873 shares during the last quarter. Frazier Financial Advisors LLC grew its position in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Mount Lucas Management LP increased its stake in shares of Cardinal Health by 2.9% in the third quarter. Mount Lucas Management LP now owns 4,530 shares of the company’s stock valued at $501,000 after purchasing an additional 129 shares during the period. Natixis Advisors LLC raised its holdings in shares of Cardinal Health by 22.6% during the third quarter. Natixis Advisors LLC now owns 461,449 shares of the company’s stock valued at $50,999,000 after buying an additional 85,029 shares during the last quarter. Finally, KCM Investment Advisors LLC boosted its position in shares of Cardinal Health by 4.9% during the third quarter. KCM Investment Advisors LLC now owns 15,570 shares of the company’s stock worth $1,721,000 after buying an additional 721 shares during the period. Institutional investors own 87.17% of the company’s stock.

About Cardinal Health

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.