Cardinal Health, Inc. (NYSE:CAH) Forecasted to Post FY2024 Earnings of $7.22 Per Share

Cardinal Health, Inc. (NYSE:CAH) – Analysts at Zacks Research increased their FY2024 EPS estimates for shares of Cardinal Health in a research note issued on Wednesday, April 17th. Zacks Research analyst D. Dey now expects that the company will earn $7.22 per share for the year, up from their prior estimate of $7.21. The consensus estimate for Cardinal Health’s current full-year earnings is $7.28 per share. Zacks Research also issued estimates for Cardinal Health’s Q4 2024 earnings at $1.74 EPS, Q1 2025 earnings at $1.81 EPS, Q4 2025 earnings at $2.08 EPS, FY2025 earnings at $7.95 EPS and FY2026 earnings at $8.18 EPS.

CAH has been the subject of a number of other research reports. TheStreet cut shares of Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Barclays began coverage on shares of Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, UBS Group upped their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Stock Performance

Shares of CAH stock opened at $106.52 on Thursday. Cardinal Health has a 52-week low of $77.56 and a 52-week high of $116.04. The stock has a market cap of $25.91 billion, a price-to-earnings ratio of 41.94, a P/E/G ratio of 1.03 and a beta of 0.68. The firm has a fifty day moving average of $109.46 and a 200-day moving average of $104.02.

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, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. During the same quarter in the prior year, the company posted $1.32 EPS. The business’s revenue was up 11.6% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CAH. Panagora Asset Management Inc. boosted its stake in shares of Cardinal Health by 53.6% in the 1st quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock valued at $1,452,000 after purchasing an additional 8,935 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Cardinal Health by 4.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,071 shares of the company’s stock valued at $2,102,000 after purchasing an additional 1,702 shares during the last quarter. Cibc World Market Inc. bought a new position in shares of Cardinal Health in the 1st quarter valued at about $212,000. Blair William & Co. IL boosted its stake in shares of Cardinal Health by 6.7% in the 1st quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock valued at $667,000 after purchasing an additional 734 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Cardinal Health by 6.4% in the 1st quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock valued at $26,792,000 after purchasing an additional 28,568 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is presently 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.