Zacks Research Comments on Cardinal Health, Inc.’s FY2024 Earnings (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) – Equities researchers at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of Cardinal Health in a report released on Wednesday, April 17th. Zacks Research analyst D. Dey now expects that the company will earn $7.22 per share for the year, up from their prior estimate of $7.21. The consensus estimate for Cardinal Health’s current full-year earnings is $7.28 per share. Zacks Research also issued estimates for Cardinal Health’s Q4 2024 earnings at $1.74 EPS, Q1 2025 earnings at $1.81 EPS, Q4 2025 earnings at $2.08 EPS, FY2025 earnings at $7.95 EPS and FY2026 earnings at $8.18 EPS.

Several other research firms have also recently weighed in on CAH. TheStreet cut shares of Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. UBS Group raised their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Barclays began coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $103.07.

Cardinal Health Trading Up 2.1 %

NYSE:CAH opened at $108.19 on Thursday. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04. The firm has a fifty day simple moving average of $109.59 and a 200 day simple moving average of $104.18. The stock has a market capitalization of $26.32 billion, a PE ratio of 42.59, a P/E/G ratio of 1.03 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. During the same period last year, the business earned $1.32 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently modified their holdings of CAH. State Street Corp raised its stake in Cardinal Health by 2.1% in the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after purchasing an additional 457,777 shares in the last quarter. Invesco Ltd. raised its stake in Cardinal Health by 9.0% in the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after purchasing an additional 511,826 shares in the last quarter. Geode Capital Management LLC raised its stake in Cardinal Health by 0.5% in the first quarter. Geode Capital Management LLC now owns 5,396,988 shares of the company’s stock valued at $406,560,000 after purchasing an additional 28,250 shares in the last quarter. Morgan Stanley raised its stake in Cardinal Health by 3.6% in the fourth quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock valued at $353,155,000 after purchasing an additional 161,667 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Cardinal Health by 82.2% in the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after purchasing an additional 1,862,291 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.