Cardinal Health (NYSE:CAH) Price Target Raised to $166.00

Cardinal Health (NYSE:CAH - Get Free Report) had its price target upped by Morgan Stanley from $142.00 to $166.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 9.59% from the stock's current price.

Other analysts have also recently issued reports about the company. Mizuho upped their price target on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Evercore ISI upgraded shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Bank of America upped their price objective on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Citigroup lifted their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Finally, TD Cowen upgraded Cardinal Health from a "hold" rating to a "buy" rating and increased their price target for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.43.

Cardinal Health Trading Up 1.3 %

Shares of CAH traded up $1.95 during trading hours on Monday, hitting $151.48. 395,105 shares of the stock traded hands, compared to its average volume of 2,183,882. The firm has a market capitalization of $36.59 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $152.89. The business has a fifty day moving average of $132.38 and a 200-day moving average of $125.16.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share 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 company had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the prior year, the business posted $2.08 EPS. The firm's quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardinal Health

Several large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cardinal Health by 35.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company's stock worth $3,871,000 after acquiring an additional 8,471 shares during the last quarter. CHURCHILL MANAGEMENT Corp lifted its position in shares of Cardinal Health by 1.5% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company's stock valued at $28,435,000 after acquiring an additional 3,576 shares during the period. Consolidated Planning Corp lifted its holdings in shares of Cardinal Health by 40.0% during the 4th quarter. Consolidated Planning Corp now owns 8,926 shares of the company's stock worth $1,056,000 after acquiring an additional 2,552 shares during the period. Flputnam Investment Management Co. lifted its position in shares of Cardinal Health by 1.8% during the 4th quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock worth $21,358,000 after buying an additional 3,148 shares during the last quarter. Finally, Patton Albertson Miller Group LLC acquired a new stake in Cardinal Health in the fourth quarter valued at approximately $258,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.