FY2024 EPS Estimates for Cardinal Health, Inc. Decreased by Analyst (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) – Stock analysts at Leerink Partnrs reduced their FY2024 EPS estimates for Cardinal Health in a research note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst M. Cherny now anticipates that the company will post earnings of $7.32 per share for the year, down from their prior 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.

A number of other brokerages have also commented on CAH. Barclays started coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price for the company. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. SVB Leerink began coverage on shares of Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price on the stock. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, UBS Group lifted their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.07.

Cardinal Health Stock Down 0.6 %

Cardinal Health stock opened at $103.20 on Thursday. Cardinal Health has a 12 month low of $77.56 and a 12 month high of $116.04. The stock has a market cap of $25.10 billion, a price-to-earnings ratio of 40.63, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68. The business has a 50 day moving average price of $109.51 and a two-hundred day moving average price of $104.67.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $57.02 billion. During the same period last year, the business posted $1.32 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis.

Institutional Trading of Cardinal Health

A number of hedge funds and other institutional investors have recently modified their holdings of CAH. Cornerstone Wealth Management LLC bought a new position in Cardinal Health in the 4th quarter valued at $209,000. Nordea Investment Management AB boosted its holdings in Cardinal Health by 50.5% in the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after acquiring an additional 61,933 shares during the last quarter. Vest Financial LLC increased its position in Cardinal Health by 15.9% in the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after purchasing an additional 38,769 shares during the period. Bellwether Advisors LLC bought a new stake in Cardinal Health during the 4th quarter worth about $6,290,000. Finally, DekaBank Deutsche Girozentrale lifted its position in Cardinal Health by 30.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company’s stock valued at $54,618,000 after purchasing an additional 126,668 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Cardinal Health’s payout ratio is 78.74%.

About Cardinal Health

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.