Leerink Swann Weighs in on Cardinal Health, Inc.’s Q2 2018 Earnings (CAH)
Cardinal Health, Inc. (NYSE:CAH) – Equities research analysts at Leerink Swann cut their Q2 2018 EPS estimates for Cardinal Health in a note issued to investors on Wednesday. Leerink Swann analyst D. Larsen now expects that the company will post earnings of $1.22 per share for the quarter, down from their prior estimate of $1.27. Leerink Swann has a “Hold” rating and a $72.00 price target on the stock. Leerink Swann also issued estimates for Cardinal Health’s Q4 2018 earnings at $1.20 EPS, FY2018 earnings at $4.90 EPS and FY2019 earnings at $5.40 EPS.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Credit Suisse Group restated a “buy” rating and issued a $81.00 price objective on shares of Cardinal Health in a research note on Tuesday, May 2nd. William Blair lowered Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. Tigress Financial started coverage on Cardinal Health in a research note on Friday, April 28th. They issued a “neutral” rating for the company. Finally, Jefferies Group LLC started coverage on Cardinal Health in a research note on Wednesday, May 17th. They issued a “hold” rating and a $77.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $80.46.
Cardinal Health (NYSE CAH) opened at 69.14 on Friday. The stock has a 50 day moving average price of $77.38 and a 200 day moving average price of $77.27. The stock has a market capitalization of $21.85 billion, a PE ratio of 17.16 and a beta of 0.80. Cardinal Health has a 12 month low of $62.70 and a 12 month high of $84.90.
Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The company had revenue of $32.97 billion during the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 earnings per share.
A number of large investors have recently modified their holdings of CAH. Teachers Advisors LLC raised its stake in shares of Cardinal Health by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 653,880 shares of the company’s stock worth $47,060,000 after buying an additional 5,403 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Cardinal Health by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 274,051 shares of the company’s stock worth $22,349,000 after buying an additional 4,174 shares during the last quarter. Cardinal Capital Management Inc. purchased a new position in shares of Cardinal Health during the first quarter worth $497,000. Denali Advisors LLC raised its position in shares of Cardinal Health by 50.4% in the first quarter. Denali Advisors LLC now owns 170,600 shares of the company’s stock worth $13,912,000 after buying an additional 57,200 shares during the last quarter. Finally, Charter Trust Co. raised its position in shares of Cardinal Health by 107.4% in the first quarter. Charter Trust Co. now owns 6,330 shares of the company’s stock worth $516,000 after buying an additional 3,278 shares during the last quarter. Institutional investors and hedge funds own 87.31% of the company’s stock.
In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $72.87, for a total value of $1,695,684.90. Following the completion of the sale, the insider now owns 55,440 shares in the company, valued at approximately $4,039,912.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.94% of the company’s stock.
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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