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

Cardinal Health, Inc. (NYSE:CAH) – Stock analysts at Zacks Research upped their FY2024 EPS estimates for shares of Cardinal Health in a research note issued to investors on Wednesday, April 17th. Zacks Research analyst D. Dey now forecasts that the company will post earnings per share of $7.22 for the year, up from their prior forecast 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.

Other analysts have also issued reports about the stock. SVB Leerink began coverage on shares of Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 target price for the company. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Finally, Barclays began coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price for the company. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Stock Down 0.5 %

NYSE CAH opened at $106.00 on Thursday. The company has a fifty day moving average of $109.53 and a two-hundred day moving average of $104.03. The firm has a market capitalization of $25.78 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 1.03 and a beta of 0.68. Cardinal Health has a 52 week low of $77.56 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share 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 firm had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. During the same quarter in the prior year, the business earned $1.32 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAH. State Street Corp increased its holdings in shares of Cardinal Health by 2.1% in the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after purchasing an additional 457,777 shares during the period. Invesco Ltd. grew its holdings in Cardinal Health by 9.0% during the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock worth $350,748,000 after acquiring an additional 511,826 shares during the period. Geode Capital Management LLC grew its holdings in Cardinal Health by 0.5% during the first quarter. Geode Capital Management LLC now owns 5,396,988 shares of the company’s stock worth $406,560,000 after acquiring an additional 28,250 shares during the period. Morgan Stanley grew its holdings in Cardinal Health by 3.6% during the fourth quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock worth $353,155,000 after acquiring an additional 161,667 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after acquiring an additional 1,862,291 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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.