Cardinal Health (NYSE:CAH) Given a $181.00 Price Target at Morgan Stanley

Cardinal Health (NYSE:CAH) has been given a $181.00 price objective by equities research analysts at Morgan Stanley in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 11.36% from the company’s previous close.

A number of other research firms have also recently weighed in on CAH. Mizuho lifted their price objective on Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. UBS Group lifted their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. Bank of America upped their target price on Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company upgraded Cardinal Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $157.43.

Cardinal Health Trading Up 0.7%

Shares of Cardinal Health stock traded up $1.13 on Friday, hitting $162.54. 489,712 shares of the company traded hands, compared to its average volume of 2,224,217. The firm’s 50-day simple moving average is $146.04 and its 200 day simple moving average is $132.76. Cardinal Health has a 12-month low of $93.17 and a 12-month high of $163.06. The company has a market cap of $38.79 billion, a P/E ratio of 30.34, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The business had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the prior year, the company posted $2.08 EPS. Cardinal Health’s quarterly revenue was up .0% compared to the same quarter last year. Analysts predict that Cardinal Health will post 7.95 earnings per share for the current year.

Hedge Funds Weigh In On Cardinal Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in Cardinal Health by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company’s stock valued at $691,145,000 after acquiring an additional 109,273 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Cardinal Health by 40.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company’s stock valued at $575,327,000 after purchasing an additional 1,193,983 shares in the last quarter. Invesco Ltd. boosted its position in Cardinal Health by 4.6% during the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company’s stock worth $376,396,000 after purchasing an additional 140,368 shares during the period. Marshall Wace LLP boosted its holdings in Cardinal Health by 154.6% in the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock worth $372,756,000 after acquiring an additional 1,913,892 shares during the period. Finally, Northern Trust Corp grew its position in shares of Cardinal Health by 3.5% during the first quarter. Northern Trust Corp now owns 3,143,003 shares of the company’s stock worth $433,012,000 after buying an additional 105,154 shares in the last quarter. Institutional investors and hedge funds 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.