Cardinal Health (NYSE:CAH) Given New $190.00 Price Target at Morgan Stanley

Cardinal Health (NYSE:CAH - Free Report) had its price target boosted by Morgan Stanley from $181.00 to $190.00 in a report issued on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other analysts also recently weighed in on the company. Evercore ISI restated an "outperform" rating and set a $180.00 target price (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Citigroup reissued a "neutral" rating and issued a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Bank of America boosted their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, UBS Group raised their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.07.

Cardinal Health Price Performance

Shares of NYSE CAH traded up $0.05 during trading hours on Wednesday, hitting $161.07. 1,350,718 shares of the stock were exchanged, compared to its average volume of 2,235,273. Cardinal Health has a one year low of $94.29 and a one year high of $168.44. The company's 50 day moving average is $158.06 and its 200 day moving average is $139.47. The firm has a market capitalization of $38.44 billion, a P/E ratio of 25.13, a P/E/G ratio of 1.59 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The business's revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. Research analysts anticipate that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.27%. The ex-dividend date was Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is 31.83%.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. lifted its holdings in shares of Cardinal Health by 1.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,034 shares of the company's stock valued at $950,000 after acquiring an additional 99 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Cardinal Health by 12.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 43,191 shares of the company's stock worth $5,108,000 after purchasing an additional 4,853 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Cardinal Health by 0.7% during the 4th quarter. Corient Private Wealth LLC now owns 91,690 shares of the company's stock valued at $10,845,000 after purchasing an additional 617 shares during the last quarter. Cibc World Markets Corp boosted its position in Cardinal Health by 82.9% in the fourth quarter. Cibc World Markets Corp now owns 60,564 shares of the company's stock valued at $7,163,000 after buying an additional 27,456 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Cardinal Health by 25.7% during the fourth quarter. Signaturefd LLC now owns 3,396 shares of the company's stock worth $402,000 after buying an additional 695 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

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.