Analysts Anticipate Cardinal Health Inc (CAH) Will Announce Quarterly Sales of $34.66 Billion

Brokerages forecast that Cardinal Health Inc (NYSE:CAH) will post $34.66 billion in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Cardinal Health’s earnings, with the lowest sales estimate coming in at $34.28 billion and the highest estimate coming in at $35.12 billion. Cardinal Health posted sales of $33.15 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.6%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, February 8th.

According to Zacks, analysts expect that Cardinal Health will report full year sales of $34.66 billion for the current financial year, with estimates ranging from $134.54 billion to $136.80 billion. For the next fiscal year, analysts anticipate that the company will report sales of $140.25 billion per share, with estimates ranging from $136.76 billion to $144.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cardinal Health.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Monday, November 6th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $32.64 billion for the quarter, compared to analysts’ expectations of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS.

CAH has been the topic of a number of research reports. Morgan Stanley cut Cardinal Health from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 20th. Deutsche Bank initiated coverage on Cardinal Health in a research report on Monday, December 4th. They set a “hold” rating and a $64.00 price target on the stock. Argus cut Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Zacks Investment Research upgraded Cardinal Health from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cardinal Health in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. Cardinal Health currently has a consensus rating of “Hold” and an average price target of $74.61.

In related news, CEO Michael C. Kaufmann sold 18,586 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $73.90, for a total value of $1,373,505.40. Following the sale, the chief executive officer now directly owns 211,849 shares in the company, valued at approximately $15,655,641.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Cardinal Health during the 3rd quarter valued at $102,000. Advisory Services Network LLC increased its position in shares of Cardinal Health by 18.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after purchasing an additional 270 shares during the period. JNBA Financial Advisors increased its position in shares of Cardinal Health by 615.4% during the 4th quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock valued at $114,000 after purchasing an additional 1,600 shares during the period. Cerebellum GP LLC acquired a new position in shares of Cardinal Health during the 4th quarter valued at $129,000. Finally, First PREMIER Bank acquired a new position in shares of Cardinal Health during the 4th quarter valued at $163,000. Institutional investors own 88.00% of the company’s stock.

Shares of Cardinal Health (CAH) opened at $65.44 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $20,241.59, a P/E ratio of 12.21, a PEG ratio of 1.46 and a beta of 0.96. Cardinal Health has a 1 year low of $54.66 and a 1 year high of $84.88.

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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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Earnings History and Estimates for Cardinal Health (NYSE:CAH)

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