Leerink Partnrs Brokers Reduce Earnings Estimates for Cardinal Health, Inc. (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) – Research analysts at Leerink Partnrs lowered their Q4 2024 earnings per share estimates for Cardinal Health in a note issued to investors on Thursday, May 2nd. Leerink Partnrs analyst M. Cherny now forecasts that the company will post earnings of $1.75 per share for the quarter, down from their previous estimate of $1.79. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Cardinal Health’s current full-year earnings is $7.34 per share. Leerink Partnrs also issued estimates for Cardinal Health’s Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $1.82 EPS, Q3 2025 earnings at $2.10 EPS, FY2025 earnings at $7.60 EPS, FY2026 earnings at $8.41 EPS, FY2027 earnings at $9.22 EPS and FY2028 earnings at $10.05 EPS.

Several other research firms have also issued reports on CAH. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 2nd. UBS Group boosted their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. SVB Leerink initiated coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price for the company. Evercore ISI boosted their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday. Finally, Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $105.79.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $98.59 on Monday. The firm has a fifty day moving average price of $109.10 and a two-hundred day moving average price of $105.17. The company has a market cap of $24.01 billion, a price-to-earnings ratio of 43.82, a PEG ratio of 1.01 and a beta of 0.71. Cardinal Health has a one year low of $80.90 and a one year high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.74 earnings per share.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently modified their holdings of CAH. Clearstead Trust LLC bought a new stake in Cardinal Health in the 4th quarter worth $25,000. Cornerstone Planning Group LLC bought a new stake in shares of Cardinal Health in the third quarter worth about $26,000. Raleigh Capital Management Inc. increased its holdings in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares during the period. BKM Wealth Management LLC bought a new position in Cardinal Health during the 4th quarter valued at approximately $30,000. Finally, YHB Investment Advisors Inc. purchased a new stake in Cardinal Health in the 1st quarter worth approximately $32,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

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.