Wall Street brokerages forecast that Cardinal Health Inc (NYSE:CAH) will post sales of $33.51 billion for the current quarter, Zacks reports. Eight analysts have provided estimates for Cardinal Health’s earnings, with the lowest sales estimate coming in at $32.89 billion and the highest estimate coming in at $34.17 billion. Cardinal Health reported sales of $31.82 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The firm is scheduled to report its next earnings results on Monday, May 7th.
According to Zacks, analysts expect that Cardinal Health will report full year sales of $33.51 billion for the current financial year, with estimates ranging from $134.49 billion to $137.42 billion. For the next financial year, analysts expect that the firm will report sales of $141.12 billion per share, with estimates ranging from $137.46 billion to $145.13 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cardinal Health.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The company had revenue of $35.19 billion during the quarter, compared to the consensus estimate of $34.63 billion. During the same period in the previous year, the firm posted $1.34 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year.
In other Cardinal Health news, CEO Michael C. Kaufmann sold 18,586 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $73.90, for a total value of $1,373,505.40. Following the transaction, the chief executive officer now owns 211,849 shares in the company, valued at $15,655,641.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patricia Morrison sold 28,532 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total transaction of $1,891,671.60. Following the completion of the transaction, the insider now owns 36,157 shares in the company, valued at approximately $2,397,209.10. The disclosure for this sale can be found here. Insiders sold 55,113 shares of company stock worth $3,815,073 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC purchased a new position in shares of Cardinal Health in the third quarter valued at about $102,000. Ffcm LLC purchased a new position in shares of Cardinal Health in the fourth quarter valued at about $105,000. JNBA Financial Advisors increased its position in shares of Cardinal Health by 615.4% in the fourth quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock valued at $114,000 after acquiring an additional 1,600 shares during the period. Cerebellum GP LLC purchased a new position in shares of Cardinal Health in the fourth quarter valued at about $129,000. Finally, James Hambro & Partners purchased a new position in shares of Cardinal Health in the fourth quarter valued at about $138,000. Hedge funds and other institutional investors own 90.04% of the company’s stock.
Shares of Cardinal Health (CAH) opened at $72.36 on Tuesday. Cardinal Health has a fifty-two week low of $54.66 and a fifty-two week high of $84.88. The company has a current ratio of 1.09, a quick ratio of 0.57 and a debt-to-equity ratio of 1.19. The stock has a market cap of $22,394.54, a price-to-earnings ratio of 12.58, a PEG ratio of 1.60 and a beta of 0.95.
Cardinal Health declared that its board has initiated a share repurchase plan on Thursday, February 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, April 2nd will be given a $0.4624 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, March 29th. Cardinal Health’s payout ratio is 32.17%.
Cardinal Health Company Profile
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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