Equities research analysts predict that Cardinal Health Inc (NYSE:CAH) will post sales of $33.51 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Cardinal Health’s earnings. The lowest sales estimate is $32.89 billion and the highest is $34.17 billion. Cardinal Health posted sales of $31.82 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The firm is expected to report its next quarterly earnings report on Monday, May 7th.
On average, analysts expect that Cardinal Health will report full year sales of $33.51 billion for the current fiscal year, with estimates ranging from $134.49 billion to $137.42 billion. For the next year, analysts forecast that the business will report sales of $141.12 billion per share, with estimates ranging from $137.46 billion to $145.13 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Cardinal Health.
Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.17. The firm had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. Cardinal Health had a return on equity of 24.81% and a net margin of 1.37%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share.
CAH has been the topic of several research analyst reports. Zacks Investment Research raised Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Monday, January 29th. Jefferies Group set a $72.00 price target on Cardinal Health and gave the stock a “hold” rating in a research report on Friday, February 9th. Royal Bank of Canada set a $83.00 price target on Cardinal Health and gave the stock a “hold” rating in a research report on Thursday, February 8th. ValuEngine lowered Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Argus lowered Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.84.
In related news, insider Patricia Morrison sold 28,532 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $66.30, for a total transaction of $1,891,671.60. Following the transaction, the insider now owns 36,157 shares of the company’s stock, valued at $2,397,209.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael C. Kaufmann sold 18,586 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total value of $1,373,505.40. Following the transaction, the chief executive officer now directly owns 211,849 shares in the company, valued at approximately $15,655,641.10. The disclosure for this sale can be found here. In the last three months, insiders sold 55,113 shares of company stock worth $3,815,073. Corporate insiders own 0.97% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CAH. American International Group Inc. grew its holdings in Cardinal Health by 5,859.3% during the fourth quarter. American International Group Inc. now owns 7,969,384 shares of the company’s stock worth $488,284,000 after acquiring an additional 7,835,654 shares during the period. BlackRock Inc. grew its holdings in Cardinal Health by 15.0% during the fourth quarter. BlackRock Inc. now owns 24,845,043 shares of the company’s stock worth $1,522,257,000 after acquiring an additional 3,235,076 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Cardinal Health during the fourth quarter worth $111,944,000. Ameriprise Financial Inc. grew its holdings in Cardinal Health by 38.6% during the third quarter. Ameriprise Financial Inc. now owns 4,930,457 shares of the company’s stock worth $329,964,000 after acquiring an additional 1,373,334 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Cardinal Health by 31.3% during the fourth quarter. Bank of New York Mellon Corp now owns 5,049,224 shares of the company’s stock worth $309,366,000 after acquiring an additional 1,203,015 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.
Cardinal Health (NYSE CAH) opened at $69.31 on Friday. The company has a market capitalization of $21,346.57, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. Cardinal Health has a 12-month low of $54.66 and a 12-month high of $84.88. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.57 and a current ratio of 1.09.
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be issued a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, March 29th. Cardinal Health’s payout ratio is currently 32.17%.
Cardinal Health declared that its board has initiated a share buyback plan on Thursday, February 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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Cardinal Health Company Profile
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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