Cardinal Health (NYSE:CAH) PT Raised to $119.00

Cardinal Health (NYSE:CAH) had its price objective lifted by equities research analysts 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 price target points to a potential upside of 10.19% from the company’s previous close.

Several other research analysts have also commented on CAH. Robert W. Baird lifted their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. UBS Group increased their price target on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $113.25.

Cardinal Health Price Performance

Shares of CAH opened at $108.00 on Thursday. The stock has a market capitalization of $26.31 billion, a price-to-earnings ratio of 48.00, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. Cardinal Health has a 1 year low of $85.11 and a 1 year high of $116.04. The business’s 50 day simple moving average is $98.97 and its 200-day simple moving average is $103.18.

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

Institutional Investors Weigh In On Cardinal Health

Several large investors have recently added to or reduced their stakes in CAH. Clearstead Trust LLC bought a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health in the 2nd quarter worth $27,000. Raleigh Capital Management Inc. grew its position in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Cardinal Health during the second quarter valued at $29,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Cardinal Health in the first quarter valued at about $32,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

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.