Cardinal Health (NYSE:CAH – Get Free Report) had its price target hoisted by stock analysts at Morgan Stanley from $114.00 to $119.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 8.29% from the stock’s previous close.
CAH has been the topic of a number of other research reports. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Argus cut their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday. Evercore ISI increased their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday. Finally, Robert W. Baird lifted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.45.
Read Our Latest Analysis on Cardinal Health
Cardinal Health Stock Performance
Shares of CAH stock opened at $109.89 on Thursday. The firm has a market capitalization of $26.77 billion, a PE ratio of 48.84, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. Cardinal Health has a 1 year low of $85.11 and a 1 year high of $116.04. The stock has a fifty day moving average of $99.38 and a two-hundred day moving average of $103.23.
Cardinal Health (NYSE:CAH – Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.55 earnings per share. Equities research analysts predict that Cardinal Health will post 7.35 earnings per share for the current fiscal year.
Institutional Trading of Cardinal Health
A number of hedge funds have recently modified their holdings of CAH. International Assets Investment Management LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $37,393,000. Cerity Partners LLC boosted its holdings in shares of Cardinal Health by 35.7% during the fourth quarter. Cerity Partners LLC now owns 18,515 shares of the company’s stock worth $1,867,000 after purchasing an additional 4,875 shares during the period. Simplicity Solutions LLC grew its position in Cardinal Health by 74.4% during the fourth quarter. Simplicity Solutions LLC now owns 6,768 shares of the company’s stock valued at $682,000 after purchasing an additional 2,887 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Cardinal Health in the 4th quarter valued at approximately $1,502,000. Finally, SVB Wealth LLC increased its stake in Cardinal Health by 49.5% in the 4th quarter. SVB Wealth LLC now owns 3,447 shares of the company’s stock valued at $347,000 after buying an additional 1,141 shares during the period. 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.
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Source: defenseworld.net
