Cardinal Health (NYSE:CAH) Issues Earnings Results

Cardinal Health (NYSE:CAHGet Rating) released its quarterly earnings results on Thursday. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.07), MarketWatch Earnings reports. The firm had revenue of $44.84 billion for the quarter, compared to analysts’ expectations of $43.20 billion. Cardinal Health had a return on equity of 94.02% and a net margin of 0.32%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 EPS. Cardinal Health updated its FY22 guidance to $5.15-$5.25 EPS.

Shares of CAH opened at $58.27 on Friday. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.61 and a current ratio of 1.15. The firm has a market cap of $16.14 billion, a PE ratio of 8.88, a PEG ratio of 2.80 and a beta of 0.82. The firm’s 50 day moving average price is $57.97 and its 200 day moving average price is $53.21. Cardinal Health has a twelve month low of $45.85 and a twelve month high of $64.53.

The company also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, April 1st were paid a $0.4908 dividend. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $1.96 annualized dividend and a dividend yield of 3.37%. Cardinal Health’s payout ratio is 29.88%.

Several research firms have recently commented on CAH. Robert W. Baird raised their target price on shares of Cardinal Health from $52.00 to $57.00 in a research note on Friday, February 4th. Morgan Stanley upgraded Cardinal Health from an “equal weight” rating to an “overweight” rating and set a $74.00 price objective for the company in a research report on Tuesday, April 12th. Barclays decreased their target price on shares of Cardinal Health from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 11th. Credit Suisse Group cut their price objective on shares of Cardinal Health from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, February 4th. Finally, TheStreet downgraded shares of Cardinal Health from a “c+” rating to a “d+” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.10.

A number of hedge funds have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Cardinal Health by 20.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,204 shares of the company’s stock valued at $62,000 after purchasing an additional 203 shares during the last quarter. Toroso Investments LLC bought a new stake in shares of Cardinal Health during the 4th quarter worth about $218,000. Virtu Financial LLC bought a new position in shares of Cardinal Health in the 4th quarter valued at approximately $307,000. NewEdge Advisors LLC acquired a new stake in Cardinal Health in the 4th quarter worth approximately $492,000. Finally, MML Investors Services LLC boosted its position in Cardinal Health by 12.5% during the fourth quarter. MML Investors Services LLC now owns 10,010 shares of the company’s stock worth $515,000 after purchasing an additional 1,111 shares during the period. 84.26% of the stock is owned by institutional investors.

About Cardinal Health (Get Rating)

Cardinal Health, Inc operates as an integrated 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.

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Earnings History for Cardinal Health (NYSE:CAH)

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