Cardinal Health, Inc. (NYSE:CAH - Free Report) - Equities research analysts at Zacks Research raised their FY2027 earnings estimates for shares of Cardinal Health in a research report issued on Thursday, June 19th. Zacks Research analyst R. Department now forecasts that the company will earn $9.78 per share for the year, up from their prior forecast of $9.77. The consensus estimate for Cardinal Health's current full-year earnings is $7.95 per share.
Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The firm's quarterly revenue was up .0% on a year-over-year basis.
Other analysts also recently issued research reports about the stock. UBS Group upped their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Morgan Stanley set a $181.00 price objective on shares of Cardinal Health and gave the company an "overweight" rating in a research note on Friday, June 13th. Mizuho increased their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Finally, Robert W. Baird increased their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.43.
Check Out Our Latest Analysis on CAH
Cardinal Health Stock Performance
Shares of Cardinal Health stock traded up $0.55 on Monday, reaching $163.95. 2,564,525 shares of the stock were exchanged, compared to its average volume of 2,230,985. The firm's 50 day moving average is $150.11 and its 200-day moving average is $134.48. Cardinal Health has a one year low of $93.17 and a one year high of $166.32. The firm has a market cap of $39.13 billion, a PE ratio of 25.58, a P/E/G ratio of 1.82 and a beta of 0.66.
Cardinal Health Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.25%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is presently 31.51%.
Hedge Funds Weigh In On Cardinal Health
Several large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Cardinal Health by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock valued at $691,145,000 after acquiring an additional 109,273 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cardinal Health by 40.0% during the first quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock valued at $575,327,000 after acquiring an additional 1,193,983 shares during the last quarter. Invesco Ltd. increased its position in shares of Cardinal Health by 4.6% during the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after buying an additional 140,368 shares during the period. Marshall Wace LLP increased its position in shares of Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after buying an additional 1,913,892 shares during the period. Finally, Northern Trust Corp increased its position in shares of Cardinal Health by 3.5% during the first quarter. Northern Trust Corp now owns 3,143,003 shares of the company's stock worth $433,012,000 after buying an additional 105,154 shares during the period. Institutional investors own 87.17% of the company's stock.
About Cardinal Health
(
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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.
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