Equities analysts expect that Cardinal Health Inc (NYSE:CAH) will announce sales of $33.51 billion for the current quarter, Zacks Investment Research reports. Eight analysts have provided 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 issue its next quarterly earnings results before the market opens on Thursday, May 3rd.
According to Zacks, 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 fiscal year, analysts anticipate that the company will report sales of $141.12 billion per share, with estimates ranging from $137.46 billion to $145.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cardinal Health.
Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The company had revenue of $35.19 billion for the quarter, compared to analysts’ expectations of $34.63 billion. During the same quarter in the previous year, the company earned $1.34 EPS. Cardinal Health’s revenue for the quarter was up 6.1% on a year-over-year basis.
A number of research analysts recently weighed in on CAH shares. TheStreet upgraded shares of Cardinal Health from a “c+” rating to a “b-” rating in a research note on Tuesday, March 13th. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Monday. Zacks Investment Research upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Monday, January 29th. Barclays started coverage on shares of Cardinal Health in a research note on Thursday, March 8th. They set an “equal weight” rating and a $74.00 target price on the stock. Finally, ValuEngine cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. Cardinal Health presently has a consensus rating of “Hold” and a consensus target price of $75.46.
In other news, insider Patricia Morrison sold 28,532 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total value of $1,891,671.60. Following the sale, the insider now directly owns 36,157 shares in the company, valued at approximately $2,397,209.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jon L. Giacomin sold 7,995 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.78, for a total transaction of $549,896.10. Following the completion of the sale, the chief executive officer now owns 63,043 shares in the company, valued at $4,336,097.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,113 shares of company stock worth $3,815,073. Corporate insiders own 0.97% of the company’s stock.
Several institutional investors have recently bought and sold shares of CAH. American International Group Inc. increased its holdings in shares of Cardinal Health by 5,859.3% in the 4th quarter. American International Group Inc. now owns 7,969,384 shares of the company’s stock worth $488,284,000 after buying an additional 7,835,654 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Cardinal Health by 15.0% in the 4th quarter. BlackRock Inc. now owns 24,845,043 shares of the company’s stock worth $1,522,257,000 after buying an additional 3,235,076 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Cardinal Health in the 4th quarter worth about $111,944,000. Bank of New York Mellon Corp increased its holdings in shares of Cardinal Health by 31.3% in the 4th quarter. Bank of New York Mellon Corp now owns 5,049,224 shares of the company’s stock worth $309,366,000 after buying an additional 1,203,015 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Cardinal Health in the 4th quarter worth about $50,255,000. Hedge funds and other institutional investors own 89.98% of the company’s stock.
Shares of CAH traded down $1.45 during trading hours on Friday, reaching $62.39. 1,779,065 shares of the stock traded hands, compared to its average volume of 3,014,817. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.57 and a current ratio of 1.09. Cardinal Health has a 52-week low of $54.66 and a 52-week high of $82.80. The stock has a market cap of $19,807.65, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, April 2nd will be paid a $0.4624 dividend. This represents a $1.85 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, March 29th. Cardinal Health’s payout ratio is currently 34.26%.
Cardinal Health announced that its Board of Directors has approved a stock repurchase program 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. Stock repurchase programs are often an indication that the company’s leadership believes its shares are 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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