Cardinal Health (NYSE:CAH) Stock Price Target Raised at Morgan Stanley

Cardinal Health (NYSE:CAH) had its target price raised by investment analysts at Morgan Stanley from $265.00 to $286.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley‘s price target indicates a potential upside of 13.00% from the company’s previous close.

CAH has been the topic of several other research reports. Evercore reissued an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a research report on Wednesday, August 12th. Royal Bank Of Canada assumed coverage on Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 target price on the stock. Bank of America raised their price target on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Mizuho raised their price objective on shares of Cardinal Health from $250.00 to $280.00 and gave the company an “outperform” rating in a research report on Tuesday, October 20th. Finally, Citigroup raised their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.69.

Cardinal Health Trading Up 0.8%

CAH stock traded up $2.01 during mid-day trading on Friday, reaching $253.10. The company’s stock had a trading volume of 737,060 shares, compared to its average volume of 1,948,581. Cardinal Health has a 12 month low of $180.45 and a 12 month high of $259.84. The business’s 50 day moving average price is $237.31 and its 200 day moving average price is $222.05. The company has a market cap of $58.61 billion, a price-to-earnings ratio of 35.03, a price-to-earnings-growth ratio of 1.47 and a beta of 0.50.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities analysts expect that Cardinal Health will post 12.55 EPS for the current fiscal year.

Insider Activity

In related news, insider Jessica Mayer sold 29,436 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the completion of the sale, the insider owned 33,076 shares in the company, valued at approximately $7,812,220.44. This represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the sale, the chief executive officer directly owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 210,271 shares of company stock worth $49,626,657. 0.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cardinal Health

Large investors have recently made changes to their positions in the company. Downshift Financial LLC increased its holdings in Cardinal Health by 3,666.7% during the third quarter. Downshift Financial LLC now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 110 shares during the period. Investors Research Corp bought a new position in shares of Cardinal Health in the 2nd quarter worth $29,000. Maryland Capital Advisors Inc. boosted its position in Cardinal Health by 12,600.0% during the third quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company’s stock valued at $28,000 after purchasing an additional 126 shares in the last quarter. Allied Private Wealth LLC bought a new position in Cardinal Health in the second quarter worth about $30,000. Finally, NBH Bank purchased a new position in shares of Cardinal Health in the 2nd quarter worth approximately $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company that supports the distribution and delivery of pharmaceuticals, medical products and related services. The company serves hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.

Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, as well as consumer health products, to pharmacies and healthcare institutions.