Morgan Stanley Issues Positive Forecast for Cardinal Health (NYSE:CAH) Stock Price

Cardinal Health (NYSE:CAH) had its price objective raised by Morgan Stanley from $136.00 to $142.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CAH has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $132.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Citigroup increased their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.64.

Cardinal Health Stock Down 3.7 %

Shares of CAH stock opened at $123.56 on Friday. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $132.84. The company has a market capitalization of $29.90 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. The firm has a 50 day moving average price of $122.03 and a two-hundred day moving average price of $114.06.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping 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%. As a group, research analysts expect that Cardinal Health will post 7.84 EPS for the current year.

Cardinal Health Cuts Dividend

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

Institutional Investors Weigh In On Cardinal Health

Several hedge funds have recently modified their holdings of CAH. CHURCHILL MANAGEMENT Corp boosted its position in Cardinal Health by 1.5% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock worth $28,435,000 after buying an additional 3,576 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cardinal Health by 0.7% during the third 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 during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Alpha Cubed Investments LLC acquired a new stake in Cardinal Health in the third quarter valued at $371,000. Finally, Patton Albertson Miller Group LLC bought a new position in Cardinal Health during the 4th quarter worth $258,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

About Cardinal Health

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.