Cardinal Health (NYSE:CAH) Sets New 52-Week High After Analyst Upgrade

Cardinal Health, Inc. (NYSE:CAH) hit a new 52-week high during trading on Monday after Morgan Stanley raised their price target on the stock from $142.00 to $166.00. Morgan Stanley currently has an overweight rating on the stock. Cardinal Health traded as high as $152.98 and last traded at $151.48, with a volume of 395105 shares. The stock had previously closed at $149.53.

A number of other research analysts have also recently commented on the company. UBS Group lifted their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Citigroup boosted their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Robert W. Baird increased their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday. Mizuho increased their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Finally, Wells Fargo & Company upped their price target on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $146.43.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors have recently made changes to their positions in CAH. Pinnacle Bancorp Inc. grew its stake in shares of Cardinal Health by 11.2% in the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company’s stock worth $106,000 after acquiring an additional 77 shares during the period. Rothschild Investment LLC raised its stake in Cardinal Health by 10.1% during the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock valued at $101,000 after buying an additional 79 shares during the last quarter. CSS LLC IL lifted its holdings in shares of Cardinal Health by 0.8% during the 4th quarter. CSS LLC IL now owns 11,190 shares of the company’s stock valued at $1,323,000 after buying an additional 90 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Cardinal Health by 4.2% in the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company’s stock worth $309,000 after buying an additional 90 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV increased its position in Cardinal Health by 2.1% during the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company’s stock valued at $606,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

The stock has a fifty day moving average of $132.38 and a 200 day moving average of $125.16. The company has a market capitalization of $36.70 billion, a P/E ratio of 28.33, a PEG ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same quarter last year, the business posted $2.08 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

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.