Cardinal Health (NYSE:CAH – Get Rating) issued an update on its FY 2023 earnings guidance on Friday. The company provided EPS guidance of $5.05-$5.40 for the period, compared to the consensus EPS estimate of $5.32. The company issued revenue guidance of -.
Analysts Set New Price Targets
A number of research firms recently weighed in on CAH. Mizuho increased their price objective on shares of Cardinal Health from $58.00 to $66.00 in a report on Friday, August 12th. Evercore ISI increased their price objective on shares of Cardinal Health to $75.00 in a report on Monday, August 15th. Cowen raised their target price on shares of Cardinal Health from $59.00 to $72.00 and gave the company a market perform rating in a research note on Tuesday, August 16th. Credit Suisse Group raised their target price on shares of Cardinal Health from $56.00 to $64.00 and gave the company a neutral rating in a research note on Friday, August 12th. Finally, StockNews.com raised shares of Cardinal Health from a buy rating to a strong-buy rating in a research note on Friday, August 12th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $70.20.
Get Cardinal Health alerts:Cardinal Health Price Performance
Shares of CAH traded down $1.61 during mid-day trading on Friday, hitting $65.66. The company's stock had a trading volume of 77,612 shares, compared to its average volume of 2,827,425. The firm has a 50-day moving average price of $64.98 and a 200 day moving average price of $59.27. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.51 and a beta of 0.77. The company has a debt-to-equity ratio of 5.33, a current ratio of 1.08 and a quick ratio of 0.57. Cardinal Health has a fifty-two week low of $45.85 and a fifty-two week high of $72.28.
Cardinal Health (NYSE:CAH – Get Rating) last announced its earnings results on Thursday, August 11th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.12). Cardinal Health had a positive return on equity of 568.57% and a negative net margin of 0.51%. The firm had revenue of $47.10 billion during the quarter, compared to analyst estimates of $44.82 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The business's quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts predict that Cardinal Health will post 5.27 EPS for the current fiscal year.Cardinal Health Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be issued a dividend of $0.4957 per share. This represents a $1.98 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Friday, September 30th. Cardinal Health's dividend payout ratio is currently 29.73%.
Institutional Trading of Cardinal Health
Institutional investors have recently made changes to their positions in the stock. Delphia USA Inc. boosted its holdings in shares of Cardinal Health by 19.5% during the first quarter. Delphia USA Inc. now owns 7,974 shares of the company's stock worth $452,000 after purchasing an additional 1,300 shares during the period. KCM Investment Advisors LLC boosted its holdings in shares of Cardinal Health by 39.4% during the first quarter. KCM Investment Advisors LLC now owns 7,631 shares of the company's stock worth $433,000 after purchasing an additional 2,157 shares during the period. XTX Topco Ltd acquired a new stake in shares of Cardinal Health during the first quarter worth approximately $426,000. NewEdge Advisors LLC bought a new position in Cardinal Health during the second quarter valued at approximately $414,000. Finally, Eudaimonia Partners LLC bought a new position in Cardinal Health during the first quarter valued at approximately $393,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Cardinal Health Company Profile
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Cardinal Health, Inc operates as an integrated 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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