Analysts Set Expectations for Cardinal Health Inc’s FY2021 Earnings (CAH)
Cardinal Health Inc (NYSE:CAH) – Equities research analysts at William Blair lowered their FY2021 earnings per share estimates for shares of Cardinal Health in a research note issued to investors on Friday. William Blair analyst J. Kreger now expects that the company will post earnings per share of $7.60 for the year, down from their prior estimate of $7.79.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Monday, January 29th. Royal Bank of Canada set a $83.00 price objective on shares of Cardinal Health and gave the stock a “hold” rating in a research report on Thursday. ValuEngine downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Deutsche Bank started coverage on shares of Cardinal Health in a research report on Monday, December 4th. They set a “hold” rating and a $64.00 price objective for the company. Finally, Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Cardinal Health has an average rating of “Hold” and a consensus target price of $75.84.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.17. The firm had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. Cardinal Health’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be issued a $0.4624 dividend. The ex-dividend date is Thursday, March 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.77%. Cardinal Health’s dividend payout ratio is presently 32.17%.
Cardinal Health announced that its Board of Directors has approved a share buyback plan on Thursday, February 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other news, CEO Michael C. Kaufmann sold 18,586 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $73.90, for a total value of $1,373,505.40. Following the completion of the transaction, 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 is accessible through the SEC website. Company insiders own 0.97% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Cardinal Health in the 3rd quarter valued at about $102,000. Ffcm LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at about $105,000. Advisory Services Network LLC increased its holdings in shares of Cardinal Health by 18.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after purchasing an additional 270 shares in the last quarter. JNBA Financial Advisors increased its holdings in shares of Cardinal Health by 615.4% in the 4th quarter. JNBA Financial Advisors now owns 1,860 shares of the company’s stock valued at $114,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at about $129,000. Institutional investors and hedge funds own 87.55% of the company’s stock.
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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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