Morgan Stanley Forecasts Strong Price Appreciation for Cardinal Health (NYSE:CAH) Stock

Cardinal Health (NYSE:CAH) had its price target lifted by equities researchers at Morgan Stanley from $136.00 to $142.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 14.93% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Citigroup boosted their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, UBS Group boosted their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $135.64.

Cardinal Health Stock Performance

NYSE CAH opened at $123.56 on Friday. The stock has a market capitalization of $29.90 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.55 and a beta of 0.63. The stock’s 50 day moving average price is $122.03 and its two-hundred day moving average price is $114.19. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $132.84.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. On average, equities research analysts forecast that Cardinal Health will post 7.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in Cardinal Health in the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC grew its holdings in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares in the last quarter. Hara Capital LLC acquired a new position in Cardinal Health in the 3rd quarter valued at $31,000. AM Squared Ltd acquired a new position in Cardinal Health in the 3rd quarter valued at $33,000. Finally, Kentucky Trust Co acquired a new position in Cardinal Health in the 4th quarter valued at $41,000. 87.17% of the stock is owned by institutional investors and hedge funds.

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.