Cardinal Health, Inc. Forecasted to Earn Q4 2024 Earnings of $1.75 Per Share (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) – Equities research analysts at Leerink Partnrs decreased their Q4 2024 earnings per share estimates for shares of Cardinal Health in a note issued to investors on Thursday, May 2nd. Leerink Partnrs analyst M. Cherny now expects that the company will earn $1.75 per share for the quarter, down from their prior estimate of $1.79. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Cardinal Health’s current full-year earnings is $7.34 per share. Leerink Partnrs also issued estimates for Cardinal Health’s Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $1.82 EPS, Q3 2025 earnings at $2.10 EPS, FY2025 earnings at $7.60 EPS, FY2026 earnings at $8.41 EPS, FY2027 earnings at $9.22 EPS and FY2028 earnings at $10.05 EPS.

A number of other equities analysts also recently commented on CAH. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Wells Fargo & Company reduced their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. SVB Leerink started coverage on shares of Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Evercore ISI lifted their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday. Finally, StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.79.

Cardinal Health Price Performance

Cardinal Health stock opened at $98.91 on Monday. The firm’s 50-day moving average is $109.10 and its two-hundred day moving average is $105.09. The stock has a market capitalization of $24.06 billion, a P/E ratio of 43.96, a P/E/G ratio of 0.99 and a beta of 0.71. Cardinal Health has a 12-month low of $77.56 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. The firm had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 EPS.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is 88.89%.

Institutional Investors Weigh In On Cardinal Health

Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in Cardinal Health during the fourth quarter valued at approximately $258,499,000. Ameriprise Financial Inc. lifted its stake in shares of Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after purchasing an additional 1,862,291 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after purchasing an additional 823,520 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Cardinal Health during the fourth quarter worth $464,800,000. Finally, CIBC Private Wealth Group LLC raised its holdings in Cardinal Health by 1,941.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock valued at $46,183,000 after buying an additional 435,722 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About Cardinal Health

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.