FY2024 EPS Estimates for Cardinal Health, Inc. (NYSE:CAH) Lifted by Zacks Research

Cardinal Health, Inc. (NYSE:CAH) – Research analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for shares of Cardinal Health in a note issued to investors on Wednesday, May 22nd. Zacks Research analyst D. Dey now anticipates that the company will post earnings of $7.34 per share for the year, up from their prior forecast of $7.22. The consensus estimate for Cardinal Health’s current full-year earnings is $7.35 per share. Zacks Research also issued estimates for Cardinal Health’s Q3 2025 earnings at $1.95 EPS.

A number of other brokerages also recently issued reports on CAH. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Robert W. Baird lowered their price target on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. UBS Group boosted their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Argus lowered their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.57.

Cardinal Health Trading Up 0.3 %

Shares of NYSE:CAH opened at $96.32 on Thursday. The stock has a 50 day moving average of $105.31 and a 200 day moving average of $105.54. The company has a market cap of $23.46 billion, a PE ratio of 42.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. Cardinal Health has a 12-month low of $80.90 and a 12-month high of $116.04.

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

Hedge Funds Weigh In On Cardinal Health

A number of hedge funds and other institutional investors have recently made changes to their positions in CAH. Clearstead Trust LLC bought a new position in shares of Cardinal Health during the 4th quarter worth $25,000. Cornerstone Planning Group LLC bought a new position in shares of Cardinal Health during the 3rd quarter worth $26,000. Raleigh Capital Management Inc. boosted its position in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Cardinal Health during the fourth quarter valued at about $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in Cardinal Health during the first quarter valued at about $32,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.5056 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.10%. Cardinal Health’s dividend payout ratio is presently 89.78%.

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.