Leerink Partnrs Equities Analysts Lower Earnings Estimates for Cardinal Health, Inc. (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) – Equities researchers at Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for Cardinal Health in a note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst M. Cherny now anticipates that the company will earn $7.32 per share for the year, down from their previous estimate of $7.33. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Cardinal Health’s current full-year earnings is $7.28 per share. Leerink Partnrs also issued estimates for Cardinal Health’s Q4 2024 earnings at $1.79 EPS.

Several other equities analysts have also recently weighed in on the stock. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Barclays assumed coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price on the stock. UBS Group increased their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. SVB Leerink assumed coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective on the stock. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.07.

Cardinal Health Trading Down 0.6 %

Cardinal Health stock opened at $103.20 on Thursday. The firm has a market capitalization of $25.10 billion, a price-to-earnings ratio of 40.63, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68. The firm’s fifty day moving average price is $109.51 and its two-hundred day moving average price is $104.67. Cardinal Health has a 1-year low of $77.56 and a 1-year high of $116.04.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. Cardinal Health’s revenue for the quarter was up 11.6% on a year-over-year basis.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

Institutional Trading of Cardinal Health

Several hedge funds have recently added to or reduced their stakes in CAH. Cornerstone Wealth Management LLC purchased a new stake in shares of Cardinal Health during the 4th quarter worth approximately $209,000. Nordea Investment Management AB grew its holdings in Cardinal Health by 50.5% during the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after purchasing an additional 61,933 shares during the period. Vest Financial LLC increased 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 worth $28,470,000 after buying an additional 38,769 shares during the last quarter. Bellwether Advisors LLC bought a new stake in shares of Cardinal Health in the fourth quarter valued at $6,290,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Cardinal Health by 30.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company’s stock valued at $54,618,000 after buying an additional 126,668 shares during the last quarter. Institutional investors 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.