Morgan Stanley Boosts Cardinal Health (NYSE:CAH) Price Target to $119.00

Cardinal Health (NYSE:CAH) had its price objective boosted by equities researchers at Morgan Stanley from $114.00 to $119.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 10.19% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Evercore ISI upped their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday. Wells Fargo & Company lifted their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday. Robert W. Baird upped their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Finally, UBS Group increased their price target on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research 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’s stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $113.25.

Cardinal Health Price Performance

CAH stock opened at $108.00 on Thursday. Cardinal Health has a 1-year low of $85.11 and a 1-year high of $116.04. The business has a 50-day moving average price of $98.97 and a 200 day moving average price of $103.18. The company has a market capitalization of $26.31 billion, a P/E ratio of 48.00, a PEG ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.72 by $0.12. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 EPS. On average, analysts anticipate that Cardinal Health will post 7.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $37,393,000. Cerity Partners LLC raised its holdings in shares of Cardinal Health by 35.7% during the 4th quarter. Cerity Partners LLC now owns 18,515 shares of the company’s stock valued at $1,867,000 after buying an additional 4,875 shares during the period. Simplicity Solutions LLC raised its position in shares of Cardinal Health by 74.4% in the 4th quarter. Simplicity Solutions LLC now owns 6,768 shares of the company’s stock valued at $682,000 after purchasing an additional 2,887 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $1,502,000. Finally, SVB Wealth LLC boosted its holdings in Cardinal Health by 49.5% in the fourth quarter. SVB Wealth LLC now owns 3,447 shares of the company’s stock worth $347,000 after purchasing an additional 1,141 shares during the period. 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.