Equities analysts expect that Cardinal Health Inc (NYSE:CAH) will report sales of $36.98 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Cardinal Health’s earnings. The lowest sales estimate is $36.80 billion and the highest is $37.40 billion. Cardinal Health posted sales of $35.21 billion during the same quarter last year, which suggests a positive year over year growth rate of 5%. The company is scheduled to report its next earnings report on Thursday, November 14th.
On average, analysts expect that Cardinal Health will report full-year sales of $152.71 billion for the current year, with estimates ranging from $151.94 billion to $153.47 billion. For the next year, analysts anticipate that the business will report sales of $160.11 billion, with estimates ranging from $158.12 billion to $161.85 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Cardinal Health.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.93 by $0.18. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The company had revenue of $37.35 billion during the quarter, compared to analysts’ expectations of $36.70 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The firm’s revenue was up 5.7% on a year-over-year basis.
A number of brokerages have recently issued reports on CAH. Deutsche Bank began coverage on Cardinal Health in a report on Thursday. They set a “hold” rating and a $50.00 target price for the company. Guggenheim upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $52.00 in a report on Tuesday, August 20th. Morgan Stanley decreased their target price on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, September 6th. Finally, Argus cut Cardinal Health from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $53.25.
A number of institutional investors have recently added to or reduced their stakes in CAH. Dimensional Fund Advisors LP lifted its position in Cardinal Health by 41.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,447,058 shares of the company’s stock worth $109,144,000 after acquiring an additional 720,871 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cardinal Health by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 4,155,931 shares of the company’s stock valued at $185,121,000 after purchasing an additional 213,970 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Cardinal Health by 52.7% in the 1st quarter. Janus Henderson Group PLC now owns 129,109 shares of the company’s stock valued at $6,216,000 after purchasing an additional 44,582 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Cardinal Health by 35.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 35,376 shares of the company’s stock valued at $1,703,000 after purchasing an additional 9,222 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Cardinal Health by 2.5% in the 1st quarter. Victory Capital Management Inc. now owns 52,306 shares of the company’s stock valued at $2,519,000 after purchasing an additional 1,272 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:CAH traded down $0.26 during trading on Tuesday, reaching $48.22. 150,211 shares of the stock were exchanged, compared to its average volume of 2,683,163. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 1.07. Cardinal Health has a 12-month low of $41.03 and a 12-month high of $58.31. The firm has a market cap of $14.43 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 1.59 and a beta of 1.29. The firm’s 50-day moving average price is $44.33 and its 200 day moving average price is $46.49.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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