Cardinal Health (NYSE:CAH) Price Target Raised to $127.00

Cardinal Health (NYSE:CAH - Free Report) had its target price raised by Morgan Stanley from $119.00 to $127.00 in a report released on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Argus lifted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Mizuho upped their target price on Cardinal Health from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Monday. Citigroup decreased their price target on Cardinal Health from $115.00 to $107.00 and set a "neutral" rating for the company in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $123.00.

Cardinal Health Trading Down 3.6 %

NYSE CAH traded down $4.23 during trading hours on Monday, hitting $111.90. The company's stock had a trading volume of 4,392,607 shares, compared to its average volume of 2,084,298. The company has a market capitalization of $27.08 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.60. Cardinal Health has a 52 week low of $93.17 and a 52 week high of $119.13. The company's 50-day simple moving average is $111.75 and its two-hundred day simple moving average is $104.15.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.24. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same quarter last year, the company earned $1.73 earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts anticipate that Cardinal Health will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.506 dividend. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. Cardinal Health's dividend payout ratio (DPR) is presently 39.30%.

Insider Activity at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the business's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now owns 36,867 shares of the company's stock, valued at $4,015,184.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jessica L. Mayer sold 16,573 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Cardinal Health by 101.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company's stock valued at $36,010,000 after buying an additional 161,656 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Cardinal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company's stock worth $35,160,000 after purchasing an additional 15,663 shares during the period. Alpha Cubed Investments LLC purchased a new position in Cardinal Health in the 3rd quarter worth approximately $371,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Cardinal Health by 1.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company's stock valued at $44,016,000 after purchasing an additional 6,752 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Cardinal Health by 38.7% during the first quarter. Bessemer Group Inc. now owns 19,190 shares of the company's stock valued at $2,148,000 after purchasing an additional 5,352 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Company Profile

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.