Brokers Offer Predictions for Cardinal Health, Inc.’s Q4 2024 Earnings (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) – Equities researchers at Leerink Partnrs reduced their Q4 2024 earnings estimates for shares of Cardinal Health in a research report issued on Thursday, May 2nd. Leerink Partnrs analyst M. Cherny now forecasts that the company will post earnings of $1.75 per share for the quarter, down from their previous estimate of $1.79. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Cardinal Health’s current full-year earnings is $7.34 per share. Leerink Partnrs also issued estimates for Cardinal Health’s Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $1.82 EPS, Q3 2025 earnings at $2.10 EPS, FY2025 earnings at $7.60 EPS, FY2026 earnings at $8.41 EPS, FY2027 earnings at $9.22 EPS and FY2028 earnings at $10.05 EPS.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the prior year, the company posted $1.74 EPS. The firm’s revenue was up 8.7% on a year-over-year basis.

Other analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. SVB Leerink started coverage on Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. Robert W. Baird decreased their target price on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, UBS Group raised their target price 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, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $105.79.

Cardinal Health Stock Up 1.1 %

Shares of Cardinal Health stock opened at $99.72 on Monday. Cardinal Health has a 12-month low of $80.90 and a 12-month high of $116.04. The stock has a market capitalization of $24.29 billion, a P/E ratio of 44.32, a PEG ratio of 1.01 and a beta of 0.71. The stock has a 50 day moving average price of $108.67 and a two-hundred day moving average price of $105.27.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.03%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is currently 88.89%.

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds have recently made changes to their positions in the business. Cornerstone Wealth Management LLC acquired a new position in Cardinal Health in the fourth quarter worth about $209,000. Mather Group LLC. lifted its position in shares of Cardinal Health by 2.5% during the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after buying an additional 164 shares during the period. Nordea Investment Management AB boosted its stake in Cardinal Health by 50.5% in the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after buying an additional 61,933 shares in the last quarter. Vest Financial LLC grew 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 valued at $28,470,000 after acquiring an additional 38,769 shares during the period. Finally, Gradient Investments LLC raised its stake in Cardinal Health by 55,483.3% during the first quarter. Gradient Investments LLC now owns 150,075 shares of the company’s stock worth $16,793,000 after acquiring an additional 149,805 shares in the last quarter. Institutional investors and hedge funds 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.