$33.58 Billion in Sales Expected for Cardinal Health (CAH) This Quarter

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.

A number of research firms have weighed in on CAH. TheStreet raised shares of Cardinal Health from a “c+” rating to a “b-” rating in a report on Tuesday, March 13th. Robert W. Baird reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Cardinal Health in a report on Wednesday, January 17th. Evercore ISI began coverage on shares of Cardinal Health in a report on Thursday, January 4th. They issued an “in-line” rating and a $67.00 price objective for the company. ValuEngine cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Mizuho set a $73.00 price objective on shares of Cardinal Health and gave the company a “hold” rating in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $75.46.

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.

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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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