Analysts Anticipate Cardinal Health, Inc. (NYSE:CAH) Will Post Quarterly Sales of $32.81 Billion
Equities research analysts expect Cardinal Health, Inc. (NYSE:CAH) to announce sales of $32.81 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Cardinal Health’s earnings. The lowest sales estimate is $32.11 billion and the highest is $33.38 billion. Cardinal Health reported sales of $31.38 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.6%. The company is expected to announce its next quarterly earnings report before the market opens on Wednesday, August 2nd.
On average, analysts expect that Cardinal Health will report full-year sales of $32.81 billion for the current fiscal year, with estimates ranging from $128.96 billion to $130.39 billion. For the next fiscal year, analysts expect that the business will report sales of $138.25 billion per share, with estimates ranging from $134.82 billion to $140.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Cardinal Health.
Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, May 1st. The company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. The firm had revenue of $31.82 billion for the quarter, compared to the consensus estimate of $32.30 billion. During the same period in the previous year, the business earned $1.43 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis.
A number of analysts have weighed in on the company. Credit Suisse Group restated an “outperform” rating and issued a $87.00 price target (up from $81.00) on shares of Cardinal Health in a research note on Thursday, July 13th. William Blair lowered Cardinal Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. Barclays PLC reissued an “overweight” rating and set a $82.00 price target (down previously from $88.00) on shares of Cardinal Health in a report on Saturday, April 22nd. Jefferies Group LLC started coverage on Cardinal Health in a report on Wednesday, May 17th. They set a “hold” rating and a $77.00 price target on the stock. Finally, Leerink Swann set a $72.00 price target on Cardinal Health and gave the stock a “hold” rating in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $82.99.
In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the completion of the transaction, the insider now owns 55,440 shares in the company, valued at approximately $4,039,912.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.94% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in Cardinal Health during the first quarter valued at about $120,000. Quadrant Capital Group LLC boosted its position in Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock valued at $156,000 after buying an additional 116 shares during the period. Alpha Windward LLC boosted its position in Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares during the period. MCF Advisors LLC boosted its position in Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock valued at $202,000 after buying an additional 256 shares during the period. Finally, First Mercantile Trust Co. boosted its position in Cardinal Health by 18.5% in the first quarter. First Mercantile Trust Co. now owns 2,539 shares of the company’s stock valued at $207,000 after buying an additional 397 shares during the period. Hedge funds and other institutional investors own 87.52% of the company’s stock.
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Cardinal Health (NYSE CAH) opened at 77.00 on Thursday. The company’s 50-day moving average price is $76.76 and its 200 day moving average price is $77.11. The stock has a market capitalization of $24.32 billion, a P/E ratio of 18.38 and a beta of 0.81. Cardinal Health has a 52 week low of $62.70 and a 52 week high of $85.52.
The business also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd were paid a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Thursday, June 29th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.45. Cardinal Health’s dividend payout ratio is 44.05%.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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