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

Cardinal Health (NYSE:CAH) had its price objective upped by research analysts at Morgan Stanley from $136.00 to $142.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 10.67% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. 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 note on Wednesday. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Mizuho assumed coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.64.

Cardinal Health Price Performance

NYSE:CAH opened at $128.32 on Friday. The business’s fifty day moving average price is $122.00 and its 200 day moving average price is $113.85. The firm has a market capitalization of $31.05 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. Cardinal Health has a 12 month low of $93.17 and a 12 month high of $132.84.

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

Hedge Funds Weigh In On Cardinal Health

Large investors have recently bought and sold shares of the stock. Eastern Bank purchased a new stake in shares of Cardinal Health during the 3rd quarter worth about $25,000. Frazier Financial Advisors LLC grew its stake in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Hara Capital LLC acquired a new stake in shares of Cardinal Health in the third quarter worth $31,000. AM Squared Ltd purchased a new position in shares of Cardinal Health in the 3rd quarter valued at $33,000. Finally, Kentucky Trust Co acquired a new position in shares of Cardinal Health during the 4th quarter valued at $41,000. 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.