Cardinal Health (NYSE:CAH – Get Free Report) had its price objective raised by equities researchers at Morgan Stanley from $92.00 to $100.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 15.75% from the company’s previous close.
Several other analysts have also recently issued reports on the company. Citigroup increased their target price on Cardinal Health from $88.00 to $90.00 in a research report on Monday, June 12th. Evercore ISI increased their target price on Cardinal Health from $90.00 to $95.00 in a research report on Friday, June 9th. Mizuho increased their target price on Cardinal Health from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday. TheStreet upgraded Cardinal Health from a “d+” rating to a “b-” rating in a research report on Thursday, May 4th. Finally, Credit Suisse Group increased their target price on Cardinal Health from $90.00 to $100.00 in a research report on Monday, June 12th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.69.
Check Out Our Latest Research Report on Cardinal Health
Cardinal Health Stock Down 4.4 %
Shares of CAH opened at $86.39 on Wednesday. The business has a 50-day simple moving average of $92.15 and a two-hundred day simple moving average of $83.47. The stock has a market cap of $21.99 billion, a price-to-earnings ratio of 87.26, a PEG ratio of 1.01 and a beta of 0.78. Cardinal Health has a 52 week low of $64.99 and a 52 week high of $95.45.
Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings results on Tuesday, August 15th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. The business had revenue of $53.45 billion during the quarter, compared to analysts’ expectations of $52.72 billion. Cardinal Health had a negative return on equity of 67.01% and a net margin of 0.13%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, equities analysts anticipate that Cardinal Health will post 6.62 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Stephen M. Mason sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $87.32, for a total value of $3,274,500.00. Following the completion of the sale, the chief executive officer now directly owns 37,355 shares of the company’s stock, valued at approximately $3,261,838.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jessica L. Mayer sold 30,145 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $90.84, for a total value of $2,738,371.80. Following the completion of the sale, the insider now directly owns 95,533 shares of the company’s stock, valued at approximately $8,678,217.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen M. Mason sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $87.32, for a total value of $3,274,500.00. Following the completion of the sale, the chief executive officer now directly owns 37,355 shares of the company’s stock, valued at $3,261,838.60. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
Institutional Investors Weigh In On Cardinal Health
A number of institutional investors and hedge funds have recently modified their holdings of CAH. Norges Bank bought a new stake in shares of Cardinal Health during the 4th quarter worth approximately $220,230,000. Moneta Group Investment Advisors LLC bought a new stake in shares of Cardinal Health during the 4th quarter worth approximately $215,893,000. Acadian Asset Management LLC lifted its stake in shares of Cardinal Health by 75.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,548,693 shares of the company’s stock worth $335,559,000 after acquiring an additional 1,525,324 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Cardinal Health by 52.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,876,715 shares of the company’s stock worth $298,003,000 after acquiring an additional 1,327,772 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Cardinal Health by 1,232.2% during the 2nd quarter. Marshall Wace LLP now owns 1,365,374 shares of the company’s stock worth $129,123,000 after acquiring an additional 1,262,881 shares during the last quarter. 85.40% of the stock is owned by institutional investors.
Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated 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.
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Source: defenseworld.net
