FY2024 EPS Estimates for Cardinal Health, Inc. Cut by Leerink Partnrs (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAHFree Report) – Investment analysts at Leerink Partnrs reduced their FY2024 earnings estimates for Cardinal Health in a note issued to investors on Monday, July 8th. Leerink Partnrs analyst M. Cherny now forecasts that the company will post earnings of $7.35 per share for the year, down from their prior forecast of $7.36. The consensus estimate for Cardinal Health’s current full-year earnings is $7.35 per share. Leerink Partnrs also issued estimates for Cardinal Health’s Q2 2025 earnings at $1.83 EPS, FY2025 earnings at $7.61 EPS, FY2026 earnings at $8.48 EPS, FY2027 earnings at $9.31 EPS and FY2028 earnings at $10.14 EPS.

Cardinal Health (NYSE:CAHGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. During the same period in the prior year, the business earned $1.74 earnings per share. Cardinal Health’s quarterly revenue was up 8.7% on a year-over-year basis.

A number of other brokerages have also issued reports on CAH. Wells Fargo & Company reduced their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Evercore ISI cut their price objective on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday. Argus cut their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Robert W. Baird increased their price objective on shares of Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $109.00.

View Our Latest Analysis on Cardinal Health

Cardinal Health Trading Down 0.9 %

Shares of CAH stock opened at $96.01 on Wednesday. Cardinal Health has a 1 year low of $85.11 and a 1 year high of $116.04. The firm’s 50 day moving average is $98.91 and its 200-day moving average is $104.25. The firm has a market capitalization of $23.39 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 1.07 and a beta of 0.61.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Clearstead Trust LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at about $25,000. Raleigh Capital Management Inc. lifted its position in shares of Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Cardinal Health during the first quarter valued at about $32,000. LRI Investments LLC bought a new position in shares of Cardinal Health during the first quarter valued at about $32,000. Finally, BKM Wealth Management LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at about $30,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Cardinal Health Company Profile

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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.

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Earnings History and Estimates for Cardinal Health (NYSE:CAH)

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