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

Cardinal Health (NYSE:CAH) had its target price lifted by Morgan Stanley from $119.00 to $127.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group raised their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI raised their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Mizuho increased their price objective on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Citigroup decreased their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Trading Down 3.6 %

Shares of CAH stock opened at $111.90 on Monday. The company has a market capitalization of $27.08 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The business’s 50 day moving average is $111.75 and its two-hundred day moving average is $104.15. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $119.13.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm 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%. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.73 EPS. As a group, equities analysts predict that Cardinal Health will post 7.69 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.506 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is 39.30%.

Insider Transactions at Cardinal Health

In related news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jason M. Hollar sold 46,455 shares of the 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of Cardinal Health stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the sale, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock valued at $12,379,980 in the last ninety days. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

Several hedge funds have recently modified their holdings of the company. Paragon Capital Management Inc. lifted its stake in shares of Cardinal Health by 0.7% during the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after buying an additional 99 shares during the period. Midland Wealth Advisors LLC lifted its stake in shares of Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the period. Aptus Capital Advisors LLC boosted its holdings in shares of Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after purchasing an additional 100 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Cardinal Health by 0.9% in the second quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock valued at $1,125,000 after purchasing an additional 103 shares during the last quarter. 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.