Cardinal Health, Inc. (NYSE:CAH) Expected to Post Quarterly Sales of $33.43 Billion
Analysts forecast that Cardinal Health, Inc. (NYSE:CAH) will announce $33.43 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Cardinal Health’s earnings, with the lowest sales estimate coming in at $32.86 billion and the highest estimate coming in at $33.85 billion. Cardinal Health posted sales of $32.04 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The firm is scheduled to announce its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that Cardinal Health will report full year sales of $33.43 billion for the current fiscal year, with estimates ranging from $136.09 billion to $138.52 billion. For the next financial year, analysts expect that the business will report sales of $142.28 billion per share, with estimates ranging from $137.58 billion to $147.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Cardinal Health.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same quarter in the prior year, the business posted $1.14 EPS. Cardinal Health’s revenue for the quarter was up 5.0% compared to the same quarter last year.
A number of research analysts have weighed in on the stock. Credit Suisse Group cut their price objective on shares of Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. BidaskClub cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, August 4th. UBS AG reaffirmed a “neutral” rating and issued a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Cowen and Company reaffirmed a “market perform” rating and issued a $77.00 price objective (down previously from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Finally, Zacks Investment Research cut shares of Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $80.46.
In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the completion of the sale, the insider now owns 55,440 shares of the company’s stock, valued at approximately $4,039,912.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.94% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CAH. Advisory Services Network LLC purchased a new position in Cardinal Health during the first quarter valued at $120,000. Bronfman E.L. Rothschild L.P. raised its position in Cardinal Health by 31.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock valued at $123,000 after buying an additional 382 shares during the last quarter. JFS Wealth Advisors LLC raised its position in Cardinal Health by 14.3% in the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock valued at $152,000 after buying an additional 244 shares during the last quarter. Quadrant Capital Group LLC raised its position in Cardinal Health by 6.3% in the first quarter. Quadrant Capital Group LLC now owns 1,972 shares of the company’s stock valued at $156,000 after buying an additional 116 shares during the last quarter. Finally, Dupont Capital Management Corp purchased a new position in Cardinal Health during the second quarter valued at $164,000. Institutional investors own 87.09% of the company’s stock.
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Shares of Cardinal Health (NYSE:CAH) traded down 1.29% during midday trading on Thursday, reaching $67.35. The company’s stock had a trading volume of 1,730,648 shares. The stock has a 50-day moving average of $76.30 and a 200 day moving average of $76.98. The firm has a market capitalization of $21.28 billion, a P/E ratio of 16.71 and a beta of 0.80. Cardinal Health has a 12-month low of $62.70 and a 12-month high of $84.88.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, October 2nd will be paid a dividend of $0.4624 per share. This represents a $1.85 annualized dividend and a yield of 2.71%. Cardinal Health’s dividend payout ratio is presently 45.79%.
About Cardinal Health
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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