Cardinal Health (NYSE:CAH) Releases FY 2022 Earnings Guidance

Cardinal Health (NYSE:CAH – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.15-$5.25 for the period, compared to the consensus estimate of $5.29. The company issued revenue guidance of -.

NYSE:CAH opened at $55.90 on Thursday. Cardinal Health has a 1 year low of $45.85 and a 1 year high of $64.53. The company has a current ratio of 1.08, a quick ratio of 0.61 and a debt-to-equity ratio of 5.33. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 2.73 and a beta of 0.82. The stock has a 50-day moving average price of $58.15 and a two-hundred day moving average price of $53.35.

Cardinal Health (NYSE:CAH – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.09). The business had revenue of $44.84 billion during the quarter, compared to analyst estimates of $43.20 billion. Cardinal Health had a negative net margin of 0.54% and a positive return on equity of 155.24%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 earnings per share. Sell-side analysts forecast that Cardinal Health will post 5.18 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be issued a dividend of $0.4957 per share. This represents a $1.98 annualized dividend and a yield of 3.55%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.49. Cardinal Health’s dividend payout ratio is presently 29.88%.

Several analysts recently issued reports on CAH shares. Zacks Investment Research upgraded Cardinal Health from a sell rating to a hold rating and set a $55.00 target price on the stock in a report on Monday, March 14th. TheStreet lowered Cardinal Health from a c+ rating to a d+ rating in a report on Thursday, May 5th. Robert W. Baird upped their target price on Cardinal Health from $52.00 to $57.00 in a report on Friday, February 4th. Credit Suisse Group dropped their target price on Cardinal Health from $60.00 to $58.00 and set a neutral rating on the stock in a report on Friday, February 4th. Finally, StockNews.com lowered Cardinal Health from a strong-buy rating to a buy rating in a research note on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Cardinal Health currently has an average rating of Hold and an average price target of $58.10.

Several institutional investors have recently bought and sold shares of CAH. Allianz Asset Management GmbH grew its position in shares of Cardinal Health by 66.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,441,815 shares of the company’s stock valued at $74,239,000 after purchasing an additional 576,095 shares during the last quarter. Barclays PLC grew its position in shares of Cardinal Health by 47.0% in the fourth quarter. Barclays PLC now owns 923,470 shares of the company’s stock valued at $47,549,000 after purchasing an additional 295,321 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Cardinal Health by 9.1% in the fourth quarter. Parametric Portfolio Associates LLC now owns 1,353,689 shares of the company’s stock valued at $69,701,000 after purchasing an additional 112,496 shares during the last quarter. Allstate Corp acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $1,577,000. Finally, OLD Mission Capital LLC acquired a new position in shares of Cardinal Health in the third quarter valued at approximately $1,407,000. 84.26% of the stock is currently 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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