FY2024 EPS Estimates for Cardinal Health, Inc. (NYSE:CAH) Reduced by Analyst

Cardinal Health, Inc. (NYSE:CAH) – Research analysts at Leerink Partnrs dropped their FY2024 EPS estimates for Cardinal Health in a research report issued on Wednesday, April 24th. Leerink Partnrs analyst M. Cherny now forecasts that the company will post earnings per share of $7.32 for the year, down from their prior forecast of $7.33. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Cardinal Health’s current full-year earnings is $7.28 per share. Leerink Partnrs also issued estimates for Cardinal Health’s Q4 2024 earnings at $1.79 EPS.

CAH has been the topic of a number of other research reports. TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Barclays began coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price objective on the stock. UBS Group increased their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.07.

Cardinal Health Trading Up 0.2 %

CAH opened at $103.54 on Thursday. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04. The stock’s fifty day simple moving average is $109.56 and its 200 day simple moving average is $104.59. The stock has a market cap of $25.18 billion, a PE ratio of 40.76, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68.

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

Institutional Trading of Cardinal Health

Several large investors have recently bought and sold shares of CAH. Norges Bank acquired a new stake in Cardinal Health in the fourth quarter valued at about $258,499,000. Ameriprise Financial Inc. boosted its stake in shares of Cardinal Health by 82.2% during 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. California Public Employees Retirement System boosted its stake in shares of Cardinal Health by 118.9% during the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after purchasing an additional 823,520 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Cardinal Health during the fourth quarter valued at about $464,800,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Cardinal Health by 1,941.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock valued at $46,183,000 after purchasing an additional 435,722 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 annualized dividend and a yield of 1.93%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is presently 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.