Cardinal Health (NYSE:CAH) Given New $136.00 Price Target at Morgan Stanley

Cardinal Health (NYSE:CAH) had its price objective raised by Morgan Stanley from $127.00 to $136.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on CAH. Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Barclays upped their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.50.

Cardinal Health Stock Performance

Shares of CAH stock opened at $115.81 on Tuesday. Cardinal Health has a 1 year low of $93.17 and a 1 year high of $126.23. The firm has a market capitalization of $28.03 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. The stock has a fifty day moving average of $117.28 and a two-hundred day moving average of $108.78.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. Equities research analysts predict that Cardinal Health will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Institutional Trading of Cardinal Health

A number of hedge funds have recently modified their holdings of CAH. Eastern Bank acquired a new position in Cardinal Health during the third quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health in the second quarter worth approximately $27,000. Frazier Financial Advisors LLC boosted its holdings in shares of 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 purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Cardinal Health in the 2nd quarter valued at approximately $29,000. Finally, Hara Capital LLC purchased a new stake in Cardinal Health in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors 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.