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 reduced their FY2024 earnings per share estimates for shares of Cardinal Health in a research note issued on Wednesday, April 24th. Leerink Partnrs analyst M. Cherny now anticipates 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.

A number of other research analysts have also recently commented on the company. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. SVB Leerink initiated coverage on Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective for the company. Barclays initiated coverage on Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price objective for the company. 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 research note on Monday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $103.07.

Cardinal Health Stock Up 0.3 %

CAH opened at $103.81 on Thursday. The stock has a market cap of $25.25 billion, a PE ratio of 40.87, a PEG ratio of 1.00 and a beta of 0.68. The business has a 50 day moving average of $109.54 and a 200-day moving average of $104.58. Cardinal Health has a 52 week low of $77.56 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last released 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. The business had revenue of $57.45 billion during 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 was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $1.32 EPS.

Institutional Trading of Cardinal Health

Large investors have recently modified their holdings of the company. Clearstead Trust LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth $25,000. Cornerstone Planning Group LLC bought a new stake in shares of Cardinal Health in the third quarter worth $26,000. Raleigh Capital Management Inc. grew its holdings in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after acquiring an additional 268 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth $30,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after acquiring an additional 118 shares during the period. 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. Shareholders of record on Monday, April 1st were issued a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Thursday, March 28th. 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.