FY2024 EPS Estimates for Cardinal Health, Inc. (NYSE:CAH) Reduced by Analyst

Cardinal Health, Inc. (NYSE:CAH) – Research analysts at Leerink Partnrs cut their FY2024 earnings per share (EPS) estimates for shares of Cardinal Health in a report released on Wednesday, April 24th. Leerink Partnrs analyst M. Cherny now forecasts that the company will earn $7.32 per share for the year, down from their previous estimate of $7.33. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Cardinal Health’s current full-year earnings is $7.28 per share. Leerink Partnrs also issued estimates for Cardinal Health’s Q4 2024 earnings at $1.79 EPS.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same period in the prior year, the company earned $1.32 EPS. The company’s revenue was up 11.6% on a year-over-year basis.

CAH has been the topic of several other reports. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. UBS Group raised their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target on the stock. Finally, Barclays initiated coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.07.

Cardinal Health Price Performance

CAH opened at $103.54 on Thursday. The stock’s 50 day simple moving average is $109.56 and its 200 day simple moving average is $104.59. Cardinal Health has a 1 year low of $77.56 and a 1 year high of $116.04. The firm has a market cap of $25.18 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 1.00 and a beta of 0.68.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s payout ratio is presently 78.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CAH. V Square Quantitative Management LLC raised its stake in Cardinal Health by 12.6% during the first quarter. V Square Quantitative Management LLC now owns 8,919 shares of the company’s stock valued at $998,000 after buying an additional 1,000 shares during the last quarter. Simplicity Wealth LLC purchased a new position in Cardinal Health during the first quarter valued at $747,000. Archford Capital Strategies LLC purchased a new position in Cardinal Health during the first quarter valued at $213,000. Spire Wealth Management raised its stake in Cardinal Health by 309.1% during the first quarter. Spire Wealth Management now owns 2,205 shares of the company’s stock valued at $247,000 after buying an additional 1,666 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Cardinal Health by 61.6% during the first quarter. Assenagon Asset Management S.A. now owns 9,494 shares of the company’s stock valued at $1,062,000 after buying an additional 3,618 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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.