Wall Street analysts expect Cardinal Health (NYSE:CAH) to report $33.58 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Cardinal Health’s earnings. The lowest sales estimate is $32.89 billion and the highest is $34.17 billion. Cardinal Health reported sales of $31.82 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, May 3rd.
On average, analysts expect that Cardinal Health will report full-year sales of $136.05 billion for the current fiscal year, with estimates ranging from $134.49 billion to $137.42 billion. For the next fiscal year, analysts forecast that the company will report sales of $141.37 billion per share, with estimates ranging from $137.46 billion to $145.13 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Cardinal Health.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. Cardinal Health had a net margin of 1.37% and a return on equity of 24.81%. The company had revenue of $35.19 billion during the quarter, compared to analysts’ expectations of $34.63 billion. During the same quarter in the previous year, the company earned $1.34 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis.
CAH opened at $60.42 on Monday. Cardinal Health has a fifty-two week low of $54.66 and a fifty-two week high of $81.91. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 0.57. The firm has a market capitalization of $19,593.65, a price-to-earnings ratio of 11.19, a PEG ratio of 1.42 and a beta of 1.07.
The business also recently announced a quarterly dividend, which was paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd were paid a dividend of $0.4624 per share. The ex-dividend date of this dividend was Thursday, March 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.06%. Cardinal Health’s dividend payout ratio is currently 34.26%.
Cardinal Health announced that its board has approved a share repurchase program on Thursday, February 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Patricia Morrison sold 28,532 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total transaction of $1,891,671.60. Following the completion of the sale, the insider now owns 36,157 shares of the company’s stock, valued at $2,397,209.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon L. Giacomin sold 7,995 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.78, for a total transaction of $549,896.10. Following the sale, the chief executive officer now directly owns 63,043 shares of the company’s stock, valued at approximately $4,336,097.54. The disclosure for this sale can be found here. Insiders have sold 55,113 shares of company stock valued at $3,815,073 in the last three months. Corporate insiders own 0.97% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB boosted its position in Cardinal Health by 7.3% during the fourth quarter. Xact Kapitalforvaltning AB now owns 57,933 shares of the company’s stock worth $3,550,000 after acquiring an additional 3,947 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Cardinal Health by 15.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 30,434 shares of the company’s stock worth $1,867,000 after acquiring an additional 3,968 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Cardinal Health by 5.2% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 171,828 shares of the company’s stock worth $10,528,000 after acquiring an additional 8,423 shares during the last quarter. Sawtooth Solutions LLC acquired a new position in Cardinal Health during the fourth quarter worth about $998,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Cardinal Health by 37.1% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 22,562 shares of the company’s stock worth $1,382,000 after acquiring an additional 6,100 shares during the last quarter. Hedge funds and other institutional investors own 89.99% of the company’s stock.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company worldwide. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare, and consumer products to retailers, hospitals, and other healthcare providers.
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