Zacks Research Comments on Cardinal Health, Inc.’s FY2024 Earnings (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) – Investment analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Cardinal Health in a research note issued on Wednesday, April 17th. Zacks Research analyst D. Dey now forecasts that the company will earn $7.22 per share 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.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results 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 company had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 EPS.

Several other research firms also recently weighed in on CAH. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Barclays started coverage on Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target for the company. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. SVB Leerink assumed coverage on Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Finally, UBS Group increased their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Stock Performance

CAH stock opened at $108.19 on Thursday. The company has a market capitalization of $26.32 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 1.03 and a beta of 0.68. Cardinal Health has a fifty-two week low of $77.56 and a fifty-two week high of $116.04. The stock has a fifty day moving average of $109.59 and a 200-day moving average of $104.18.

Cardinal Health Dividend Announcement

The firm also recently declared 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 1.85%. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

Institutional Trading of Cardinal Health

A number of large investors have recently modified their holdings of CAH. Clearstead Trust LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC bought a new stake in Cardinal Health in the 3rd quarter worth approximately $26,000. Raleigh Capital Management Inc. lifted its position in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the last quarter. BKM Wealth Management LLC bought a new stake in Cardinal Health in the 4th quarter worth approximately $30,000. Finally, Clear Street Markets LLC bought a new stake in Cardinal Health in the 4th quarter worth approximately $30,000. Institutional investors own 87.17% of the company’s stock.

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.