Cardinal Health, Inc. (NYSE:CAH) Forecasted to Earn FY2024 Earnings of $7.32 Per Share

Cardinal Health, Inc. (NYSE:CAH) – Investment analysts at Leerink Partnrs dropped their FY2024 earnings per share estimates for shares of Cardinal Health in a 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 previous estimate of $7.33. Leerink Partnrs 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.

Several other analysts have also recently issued reports on the company. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. UBS Group raised 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. SVB Leerink assumed coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Barclays assumed coverage on Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.07.

Cardinal Health Trading Up 0.3 %

Shares of NYSE CAH opened at $103.81 on Thursday. The stock has a market capitalization of $25.25 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68. The stock’s fifty day simple moving average is $109.54 and its two-hundred day simple moving average is $104.58. Cardinal Health has a 12-month low of $77.56 and a 12-month high of $116.04.

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

Institutional Trading of Cardinal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC lifted its position in Cardinal Health by 2.3% during the 1st quarter. Verdence Capital Advisors LLC now owns 30,755 shares of the company’s stock worth $3,441,000 after acquiring an additional 692 shares during the period. Checchi Capital Advisers LLC lifted its position in Cardinal Health by 3.2% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,758 shares of the company’s stock worth $421,000 after acquiring an additional 115 shares during the period. Strategy Asset Managers LLC lifted its position in Cardinal Health by 3.2% during the 1st quarter. Strategy Asset Managers LLC now owns 7,082 shares of the company’s stock worth $792,000 after acquiring an additional 220 shares during the period. L.M. Kohn & Company purchased a new position in shares of Cardinal Health during the 1st quarter valued at about $217,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Cardinal Health by 28.7% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 37,717 shares of the company’s stock valued at $4,221,000 after buying an additional 8,400 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.93%. Cardinal Health’s dividend payout ratio is currently 78.74%.

Cardinal Health Company Profile

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.