Cardinal Health (NYSE:CAH) Price Target Raised to $136.00

Cardinal Health (NYSE:CAH) had its price objective upped by equities research analysts at Morgan Stanley from $127.00 to $136.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 18.17% from the company’s current price.

A number of other equities analysts also recently commented on CAH. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $101.00 to $127.00 in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Barclays increased their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Argus increased their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $127.50.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $1.46 during mid-day trading on Tuesday, reaching $115.09. The company had a trading volume of 529,579 shares, compared to its average volume of 2,093,424. The stock has a fifty day moving average of $117.22 and a two-hundred day moving average of $108.67. The company has a market capitalization of $27.85 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 1.47 and a beta of 0.61. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $126.23.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during 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%. During the same period in the prior year, the firm earned $1.73 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. Sell-side analysts forecast that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors have recently bought and sold shares of CAH. State Street Corp raised its stake in shares of Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after purchasing an additional 627,253 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after purchasing an additional 191,568 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Cardinal Health by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after purchasing an additional 85,247 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after purchasing an additional 111,137 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

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.