Cardinal Health, Inc. (NYSE:CAH) to Post Q3 2024 Earnings of $2.00 Per Share, Leerink Partnrs Forecasts

Cardinal Health, Inc. (NYSE:CAH - Free Report) - Equities research analysts at Leerink Partnrs cut their Q3 2024 earnings estimates for shares of Cardinal Health in a note issued to investors on Wednesday, April 3rd. Leerink Partnrs analyst M. Cherny now expects that the company will earn $2.00 per share for the quarter, down from their previous forecast of $2.01. Leerink Partnrs currently has a "Outperform" rating on the stock. The consensus estimate for Cardinal Health's current full-year earnings is $7.29 per share. Leerink Partnrs also issued estimates for Cardinal Health's FY2024 earnings at $7.33 EPS, Q1 2025 earnings at $1.83 EPS, Q2 2025 earnings at $1.93 EPS, Q3 2025 earnings at $2.24 EPS, Q4 2025 earnings at $2.07 EPS, FY2025 earnings at $8.07 EPS, FY2026 earnings at $9.19 EPS, FY2027 earnings at $10.25 EPS and FY2028 earnings at $11.37 EPS.

Several other research analysts have also recently issued reports on CAH. SVB Leerink assumed coverage on shares of Cardinal Health in a report on Monday, February 26th. They issued an "outperform" rating and a $125.00 target price on the stock. Wells Fargo & Company began coverage on Cardinal Health in a research note on Thursday, December 14th. They set an "underweight" rating and a $96.00 price objective for the company. Argus raised Cardinal Health from a "hold" rating to a "buy" rating in a report on Friday, February 9th. TheStreet cut Cardinal Health from a "b-" rating to a "c+" rating in a report on Wednesday, December 27th. Finally, Barclays assumed coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an "overweight" rating and a $117.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $103.07.

Cardinal Health Stock Performance

CAH traded down $0.81 on Thursday, reaching $110.12. The company had a trading volume of 1,283,793 shares, compared to its average volume of 2,349,583. The business has a 50 day simple moving average of $109.03 and a 200 day simple moving average of $102.66. The company has a market cap of $26.78 billion, a price-to-earnings ratio of 43.67, a P/E/G ratio of 1.07 and a beta of 0.68. Cardinal Health has a 52-week low of $76.93 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH - Get Free Report) last released 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 net margin of 0.30% and a negative return on equity of 57.44%. The business had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. The company's revenue was up 11.6% compared to the same quarter last year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, March 28th. Cardinal Health's payout ratio is 78.74%.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds have recently made changes to their positions in CAH. Clearstead Trust LLC purchased a new stake in shares of Cardinal Health during the 4th quarter worth $25,000. Cornerstone Planning Group LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter worth $26,000. Raleigh Capital Management Inc. lifted its stake in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company's stock worth $28,000 after purchasing an additional 268 shares during the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in shares of Cardinal Health during the 2nd quarter worth $29,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Cardinal Health during the 4th quarter worth $30,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.