Cardinal Health (NYSE:CAH) Price Target Raised to $142.00

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

CAH has been the subject of several other research reports. Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. UBS Group boosted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their price objective on Cardinal Health from $127.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.64.

Cardinal Health Price Performance

CAH opened at $123.56 on Friday. The stock’s 50 day simple moving average is $122.03 and its 200 day simple moving average is $114.32. Cardinal Health has a 1 year low of $93.17 and a 1 year 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 released its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that Cardinal Health will post 7.84 EPS for the current year.

Cardinal Health Cuts Dividend

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

Institutional Trading of Cardinal Health

Institutional investors have recently made changes to their positions in the company. State Street Corp lifted its position 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 during the last quarter. Two Sigma Advisers LP increased its stake in shares of Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after purchasing an additional 346,362 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Cardinal Health by 230.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after purchasing an additional 333,095 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Cardinal Health during the third quarter worth approximately $30,820,000. Finally, Worldquant Millennium Advisors LLC boosted its position in Cardinal Health by 77.3% during the third quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock worth $65,539,000 after acquiring an additional 258,541 shares during 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.