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

Cardinal Health (NYSE:CAH) had its price target increased by investment analysts at Morgan Stanley from $119.00 to $127.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 12.21% from the stock’s current price.

Several other research firms also recently weighed in on CAH. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Mizuho lifted their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Robert W. Baird lifted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, UBS Group lifted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Performance

Shares of CAH stock opened at $113.18 on Monday. The firm has a market cap of $27.39 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 1.57 and a beta of 0.60. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $119.13. The firm’s 50-day simple moving average is $111.79 and its two-hundred day simple moving average is $104.20.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Analysts forecast that Cardinal Health will post 7.69 earnings per share for the current year.

Insider Activity

In other news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock worth $12,379,980 in the last three months. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in Cardinal Health by 101.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock worth $36,010,000 after acquiring an additional 161,656 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Cardinal Health by 5.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock worth $35,160,000 after purchasing an additional 15,663 shares during the last quarter. Alpha Cubed Investments LLC bought a new stake in Cardinal Health in the third quarter worth $371,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Cardinal Health by 1.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock worth $44,016,000 after purchasing an additional 6,752 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Cardinal Health by 38.7% in the first quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock worth $2,148,000 after purchasing an additional 5,352 shares during the last quarter. 87.17% of the stock is currently 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.