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

Morgan Stanley set a $181.00 price objective on Cardinal Health (NYSE:CAH - Free Report) in a research report sent to investors on Friday, MarketBeat.com reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on the stock. Evercore ISI reissued an "outperform" rating and issued a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday. Robert W. Baird upped their price objective on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. UBS Group boosted their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Finally, Citigroup reiterated a "neutral" rating and issued a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a research report on Friday. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Trading Up 0.6%

Shares of CAH stock traded up $1.02 during trading hours on Friday, reaching $162.43. The stock had a trading volume of 2,029,791 shares, compared to its average volume of 2,230,172. The stock's fifty 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 firm has a market capitalization of $38.77 billion, a PE ratio of 30.30, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) 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 net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same period in the previous year, the business earned $2.08 EPS. The business's revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts anticipate that Cardinal Health will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is presently 31.83%.

Institutional Trading of Cardinal Health

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cyrus J. Lawrence LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Cardinal Health in the 1st quarter worth approximately $26,000. Jones Financial Companies Lllp grew its stake in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. Promus Capital LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at $30,000. Finally, Bellwether Advisors LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth about $32,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.