Cardinal Health Inc (NYSE:CAH) – Research analysts at William Blair cut their FY2021 EPS estimates for Cardinal Health in a research note issued on Friday. William Blair analyst J. Kreger now anticipates that the company will post earnings of $7.60 per share for the year, down from their previous forecast of $7.79.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The business had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. During the same quarter last year, the company posted $1.34 earnings per share. Cardinal Health’s quarterly revenue was up 6.1% on a year-over-year basis.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Monday, January 29th. Royal Bank of Canada set a $83.00 price target on Cardinal Health and gave the stock a “hold” rating in a report on Thursday, February 8th. ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Deutsche Bank initiated coverage on Cardinal Health in a report on Monday, December 4th. They set a “hold” rating and a $64.00 price target for the company. Finally, Argus cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $75.84.
Cardinal Health (NYSE:CAH) traded up $1.74 during trading on Monday, reaching $67.43. The company had a trading volume of 1,955,431 shares, compared to its average volume of 3,375,537. Cardinal Health has a fifty-two week low of $54.66 and a fifty-two week high of $84.88. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.57. The company has a market capitalization of $21,409.51, a PE ratio of 11.69, a P/E/G ratio of 1.48 and a beta of 0.96.
Cardinal Health declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be given a $0.4624 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.74%. Cardinal Health’s payout ratio is 32.17%.
In other news, CEO Michael C. Kaufmann sold 18,586 shares of Cardinal Health stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $73.90, for a total value of $1,373,505.40. Following the completion of the sale, the chief executive officer now directly owns 211,849 shares in the company, valued at $15,655,641.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in shares of Cardinal Health by 77.8% in the third quarter. Janus Henderson Group PLC now owns 108,930 shares of the company’s stock valued at $7,291,000 after buying an additional 47,669 shares in the last quarter. FDx Advisors Inc. raised its position in Cardinal Health by 7.9% during the third quarter. FDx Advisors Inc. now owns 43,508 shares of the company’s stock valued at $2,912,000 after purchasing an additional 3,172 shares in the last quarter. Cadence Capital Management LLC raised its position in Cardinal Health by 8.4% during the third quarter. Cadence Capital Management LLC now owns 65,205 shares of the company’s stock valued at $4,364,000 after purchasing an additional 5,078 shares in the last quarter. Commonwealth Equity Services Inc raised its position in Cardinal Health by 7.4% during the third quarter. Commonwealth Equity Services Inc now owns 72,959 shares of the company’s stock valued at $4,882,000 after purchasing an additional 5,011 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Cardinal Health by 4.6% during the third quarter. Teacher Retirement System of Texas now owns 824,347 shares of the company’s stock valued at $55,165,000 after purchasing an additional 36,534 shares in the last quarter. Institutional investors own 87.55% of the company’s stock.
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About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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