Equities analysts expect that Cardinal Health, Inc. (NYSE:CAH) will announce earnings of $1.24 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Cardinal Health’s earnings. The lowest EPS estimate is $1.23 and the highest is $1.26. Cardinal Health reported earnings per share of $1.14 in the same quarter last year, which indicates a positive year-over-year growth rate of 8.8%. The business is scheduled to announce its next earnings report before the market opens on Wednesday, August 2nd.
According to Zacks, analysts expect that Cardinal Health will report full year earnings of $5.35 per share for the current year, with EPS estimates ranging from $5.35 to $5.36. For the next fiscal year, analysts anticipate that the business will post earnings of $5.21 per share, with EPS estimates ranging from $5.10 to $5.25. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Cardinal Health.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Monday, May 1st. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The company had revenue of $31.82 billion during the quarter, compared to the consensus estimate of $32.30 billion. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. Cardinal Health’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share.
A number of brokerages recently issued reports on CAH. BidaskClub cut Cardinal Health from a “buy” rating to a “hold” rating in a research report on Monday. Credit Suisse Group reissued an “outperform” rating and issued a $87.00 target price (up from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. Evercore ISI reaffirmed an “outperform” rating on shares of Cardinal Health in a research report on Tuesday, July 4th. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Vetr raised Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 price objective for the company in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the stock. Cardinal Health has an average rating of “Hold” and a consensus target price of $82.99.
Shares of Cardinal Health (NYSE:CAH) traded up 0.80% during mid-day trading on Tuesday, reaching $77.69. The company had a trading volume of 1,126,765 shares. The company has a market capitalization of $24.54 billion, a PE ratio of 18.55 and a beta of 0.81. The stock’s 50-day moving average price is $76.92 and its 200 day moving average price is $77.15. Cardinal Health has a 1-year low of $62.70 and a 1-year high of $85.52.
The firm also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd were issued a $0.4624 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.45. This represents a $1.85 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Thursday, June 29th. Cardinal Health’s dividend payout ratio (DPR) is currently 44.05%.
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In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $72.87, for a total value of $1,695,684.90. Following the completion of the transaction, the insider now directly owns 55,440 shares of the company’s stock, valued at approximately $4,039,912.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.94% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its position in Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock valued at $156,000 after buying an additional 116 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Cardinal Health by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 98,741 shares of the company’s stock valued at $8,052,000 after buying an additional 1,300 shares during the last quarter. Sheets Smith Wealth Management increased its position in Cardinal Health by 7.4% in the first quarter. Sheets Smith Wealth Management now owns 36,500 shares of the company’s stock valued at $2,977,000 after buying an additional 2,500 shares during the last quarter. Charter Trust Co. increased its position in Cardinal Health by 107.4% in the first quarter. Charter Trust Co. now owns 6,330 shares of the company’s stock valued at $516,000 after buying an additional 3,278 shares during the last quarter. Finally, Denali Advisors LLC increased its position in Cardinal Health by 50.4% in the first quarter. Denali Advisors LLC now owns 170,600 shares of the company’s stock valued at $13,912,000 after buying an additional 57,200 shares during the last quarter. 87.63% of the stock is owned by hedge funds and other institutional investors.
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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