Morgan Stanley Increases Cardinal Health (NYSE:CAH) Price Target to $142.00

Cardinal Health (NYSE:CAH) had its price target boosted by Morgan Stanley from $136.00 to $142.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft raised their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Barclays upped their price target on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.64.

Cardinal Health Stock Down 3.7 %

CAH stock opened at $123.56 on Friday. The company’s fifty day simple moving average is $122.03 and its 200 day simple moving average is $114.06. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $132.84. The firm has a market cap of $29.90 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.55 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Research analysts expect that Cardinal Health will post 7.84 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a dividend of $0.5056 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.64%. Cardinal Health’s payout ratio is 39.30%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CAH. Eastern Bank bought a new stake in shares of Cardinal Health in the third quarter worth about $25,000. Frazier Financial Advisors LLC grew its stake in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the period. Hara Capital LLC bought a new position in shares of Cardinal Health in the 3rd quarter worth about $31,000. AM Squared Ltd purchased a new position in Cardinal Health during the 3rd quarter valued at about $33,000. Finally, Kentucky Trust Co bought a new stake in Cardinal Health during the fourth quarter worth about $41,000. 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.