Cardinal Health (CAH) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS
Cardinal Health (NYSE:CAH) posted its quarterly earnings data on Thursday. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.16, Morningstar.com reports. Cardinal Health had a net margin of 0.84% and a return on equity of 25.24%. The business had revenue of $35.19 billion during the quarter, compared to analyst estimates of $34.63 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Cardinal Health updated its FY18 guidance to $5.25-$5.50 EPS.
Shares of Cardinal Health (CAH) opened at $66.63 on Friday. The firm has a market cap of $20,493.28, a P/E ratio of 12.36, a PEG ratio of 1.48 and a beta of 0.96. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. Cardinal Health has a 12-month low of $54.66 and a 12-month high of $84.88.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be given a dividend of $0.4624 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.78%. Cardinal Health’s dividend payout ratio is presently 53.78%.
Several research analysts have recently commented on the stock. ValuEngine lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho set a $73.00 price target on shares of Cardinal Health and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Monday, January 29th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $80.00 price target on shares of Cardinal Health in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $74.61.
In other news, CEO Michael C. Kaufmann sold 18,586 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $73.90, for a total transaction of $1,373,505.40. Following the completion of the sale, the chief executive officer now owns 211,849 shares in the company, valued at approximately $15,655,641.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in shares of Cardinal Health by 77.8% during the 3rd quarter. Janus Henderson Group PLC now owns 108,930 shares of the company’s stock worth $7,291,000 after buying an additional 47,669 shares during the last quarter. FDx Advisors Inc. increased its holdings in shares of Cardinal Health by 7.9% in the 3rd quarter. FDx Advisors Inc. now owns 43,508 shares of the company’s stock valued at $2,912,000 after acquiring an additional 3,172 shares during the period. Cadence Capital Management LLC increased its holdings in shares of Cardinal Health by 8.4% in the 3rd quarter. Cadence Capital Management LLC now owns 65,205 shares of the company’s stock valued at $4,364,000 after acquiring an additional 5,078 shares during the period. Commonwealth Equity Services Inc increased its holdings in shares of Cardinal Health by 7.4% in the 3rd quarter. Commonwealth Equity Services Inc now owns 72,959 shares of the company’s stock valued at $4,882,000 after acquiring an additional 5,011 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of Cardinal Health by 4.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 824,347 shares of the company’s stock valued at $55,165,000 after acquiring an additional 36,534 shares during the period. Institutional investors and hedge funds own 88.00% of the company’s stock.
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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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