Cardinal Health (NYSE:CAH) Given New $127.00 Price Target at Morgan Stanley

Cardinal Health (NYSE:CAH) had its target price lifted by research analysts at Morgan Stanley from $119.00 to $127.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 12.13% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Evercore ISI lifted their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. Argus lifted their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Robert W. Baird raised their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company increased 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. Finally, Citigroup decreased their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Stock Performance

Shares of CAH traded down $2.87 during trading hours on Monday, reaching $113.26. The stock had a trading volume of 1,209,789 shares, compared to its average volume of 2,069,355. The stock has a market capitalization of $27.40 billion, a PE ratio of 32.73, a PEG ratio of 1.49 and a beta of 0.60. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $119.13. The company’s 50-day moving average is $111.75 and its two-hundred day moving average is $104.17.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.64 by $0.24. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.73 EPS. Equities analysts anticipate that Cardinal Health will post 7.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,812,920.47. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 in the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cardinal Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Paragon Capital Management Inc. boosted its position in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after acquiring an additional 99 shares during the last quarter. Midland Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after buying an additional 100 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after buying an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Cardinal Health by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after acquiring an additional 100 shares during the last quarter. Finally, Blair William & Co. IL raised its position in Cardinal Health by 0.9% during 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 in the last quarter. Hedge funds and other 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.