Research Analysts Offer Predictions for Cardinal Health, Inc.’s Q1 2018 Earnings (CAH)
Cardinal Health, Inc. (NYSE:CAH) – Investment analysts at Leerink Swann decreased their Q1 2018 earnings per share estimates for shares of Cardinal Health in a report released on Wednesday. Leerink Swann analyst D. Larsen now forecasts that the company will post earnings of $1.06 per share for the quarter, down from their previous estimate of $1.16. Leerink Swann currently has a “Hold” rating and a $72.00 price target on the stock.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The business had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis.
Several other equities analysts have also issued reports on the stock. BidaskClub lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday. UBS AG restated a “neutral” rating and issued a $76.00 target price (down previously from $79.00) on shares of Cardinal Health in a report on Thursday. Cowen and Company restated a “market perform” rating and issued a $77.00 target price (down previously from $82.00) on shares of Cardinal Health in a report on Thursday. Credit Suisse Group dropped their target price on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Jefferies Group LLC restated a “hold” rating and issued a $77.00 target price on shares of Cardinal Health in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $80.46.
Shares of Cardinal Health (NYSE:CAH) opened at 69.14 on Monday. Cardinal Health has a 52-week low of $62.70 and a 52-week high of $84.90. The company has a market cap of $21.85 billion, a PE ratio of 17.16 and a beta of 0.80. The company has a 50 day moving average of $77.38 and a 200-day moving average of $77.27.
Several large investors have recently bought and sold shares of the company. River Road Asset Management LLC increased its stake in Cardinal Health by 28.9% in the first quarter. River Road Asset Management LLC now owns 885,861 shares of the company’s stock valued at $72,242,000 after buying an additional 198,554 shares during the last quarter. Bank of Montreal Can increased its stake in Cardinal Health by 6.2% in the first quarter. Bank of Montreal Can now owns 609,732 shares of the company’s stock valued at $49,725,000 after buying an additional 35,436 shares during the last quarter. CWM LLC increased its stake in Cardinal Health by 15.6% in the first quarter. CWM LLC now owns 331,531 shares of the company’s stock valued at $27,036,000 after buying an additional 44,689 shares during the last quarter. Morgan Stanley increased its stake in Cardinal Health by 24.6% in the first quarter. Morgan Stanley now owns 2,035,339 shares of the company’s stock valued at $165,981,000 after buying an additional 402,151 shares during the last quarter. Finally, Iowa State Bank increased its stake in Cardinal Health by 3.4% in the first quarter. Iowa State Bank now owns 20,569 shares of the company’s stock valued at $1,677,000 after buying an additional 675 shares during the last quarter. 87.09% of the stock is owned by institutional investors.
In other news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the completion of the sale, the insider now directly owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.94% of the stock is currently owned by corporate insiders.
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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