Equities research analysts expect that Cardinal Health Inc (NYSE:CAH) will announce $33.51 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Cardinal Health’s earnings, with the highest sales estimate coming in at $34.17 billion and the lowest estimate coming in at $32.89 billion. Cardinal Health reported sales of $31.82 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The business is expected to report its next quarterly earnings results on Monday, May 7th.
On average, analysts expect that Cardinal Health will report full year sales of $33.51 billion for the current financial year, with estimates ranging from $134.49 billion to $137.42 billion. For the next financial year, analysts forecast that the company will post 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 an average based on a survey of sell-side research firms that cover Cardinal Health.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.17. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The firm had revenue of $35.19 billion during the quarter, compared to analyst estimates of $34.63 billion. During the same quarter last year, the business earned $1.34 EPS. The company’s revenue was up 6.1% compared to the same quarter last year.
CAH has been the subject of several analyst reports. Morgan Stanley lowered shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a report on Monday, November 20th. Deutsche Bank initiated coverage on shares of Cardinal Health in a report on Monday, December 4th. They set a “hold” rating and a $64.00 price target for the company. ValuEngine lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Evercore ISI initiated coverage on shares of Cardinal Health in a report on Thursday, January 4th. They set an “in-line” rating and a $67.00 price target for the company. Finally, Robert W. Baird restated a “hold” rating and set a $80.00 price target on shares of Cardinal Health in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $74.78.
Cardinal Health (CAH) traded up $0.25 during trading on Tuesday, reaching $70.95. 6,794,166 shares of the company’s stock traded hands, compared to its average volume of 3,072,772. The company has a current ratio of 1.09, a quick ratio of 0.57 and a debt-to-equity ratio of 1.19. Cardinal Health has a 52-week low of $54.66 and a 52-week high of $83.22. The company has a market cap of $22,240.00, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.95.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be paid a $0.4624 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.61%. Cardinal Health’s dividend payout ratio is currently 63.36%.
Cardinal Health announced that its board has authorized a stock repurchase plan on Thursday, February 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Cardinal Health news, CEO Jon L. Giacomin sold 7,995 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were 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 approximately $4,336,097.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patricia Morrison sold 28,532 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total transaction of $1,891,671.60. Following the sale, the insider now owns 36,157 shares of the company’s stock, valued at approximately $2,397,209.10. The disclosure for this sale can be found here. Insiders sold a total of 55,113 shares of company stock valued at $3,815,073 in the last quarter. 0.97% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new stake in Cardinal Health during the 3rd quarter valued at $102,000. Ffcm LLC bought a new stake in Cardinal Health during the 4th quarter valued at $105,000. JNBA Financial Advisors increased its stake in Cardinal Health by 615.4% during the 4th quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock valued at $114,000 after purchasing an additional 1,600 shares in the last quarter. Cerebellum GP LLC bought a new stake in Cardinal Health during the 4th quarter valued at $129,000. Finally, James Hambro & Partners bought a new stake in Cardinal Health during the 4th quarter valued at $138,000. Institutional investors and hedge funds own 90.04% of the company’s stock.
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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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