$39.48 Billion in Sales Expected for Cardinal Health Inc (NYSE:CAH) This Quarter

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Equities research analysts expect that Cardinal Health Inc (NYSE:CAH) will report $39.48 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Cardinal Health’s earnings, with estimates ranging from $39.39 billion to $39.54 billion. Cardinal Health posted sales of $37.74 billion in the same quarter last year, which would indicate a positive year over year growth rate of 4.6%. The business is scheduled to report its next earnings results before the market opens on Thursday, February 6th.

On average, analysts expect that Cardinal Health will report full year sales of $152.67 billion for the current year, with estimates ranging from $152.01 billion to $153.42 billion. For the next financial year, analysts expect that the business will post sales of $159.26 billion, with estimates ranging from $158.15 billion to $160.67 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Cardinal Health.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.18. Cardinal Health had a positive return on equity of 32.25% and a negative net margin of 2.81%. The business had revenue of $37.34 billion for the quarter, compared to analyst estimates of $36.75 billion. During the same quarter in the prior year, the company posted $1.29 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis.

Several brokerages have recently commented on CAH. Guggenheim lowered Cardinal Health from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. Barclays reaffirmed a “hold” rating and issued a $54.00 price target on shares of Cardinal Health in a research note on Sunday, January 19th. Zacks Investment Research raised Cardinal Health from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Monday, November 11th. TheStreet lowered Cardinal Health from a “c+” rating to a “d” rating in a research note on Thursday, November 7th. Finally, ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Cardinal Health currently has a consensus rating of “Hold” and an average price target of $51.20.

A number of institutional investors and hedge funds have recently bought and sold shares of CAH. Amundi Pioneer Asset Management Inc. increased its holdings in Cardinal Health by 19.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 317,924 shares of the company’s stock worth $15,307,000 after purchasing an additional 52,482 shares during the period. Private Advisor Group LLC lifted its position in Cardinal Health by 27.8% during the 2nd quarter. Private Advisor Group LLC now owns 11,530 shares of the company’s stock worth $543,000 after acquiring an additional 2,505 shares during the period. Man Group plc lifted its position in Cardinal Health by 20.1% during the 2nd quarter. Man Group plc now owns 136,922 shares of the company’s stock worth $6,449,000 after acquiring an additional 22,943 shares during the period. Point72 Asset Management L.P. acquired a new stake in Cardinal Health during the 2nd quarter worth approximately $259,000. Finally, CSat Investment Advisory L.P. lifted its position in Cardinal Health by 98.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 843 shares of the company’s stock worth $39,000 after acquiring an additional 418 shares during the period. 88.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cardinal Health stock opened at $53.82 on Friday. Cardinal Health has a 52 week low of $41.03 and a 52 week high of $56.88. The business’s fifty day simple moving average is $52.22 and its 200-day simple moving average is $49.13. The firm has a market cap of $16.18 billion, a PE ratio of -3.82, a price-to-earnings-growth ratio of 1.78 and a beta of 1.32. The company has a quick ratio of 0.50, a current ratio of 1.05 and a debt-to-equity ratio of 8.15.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a dividend of $0.481 per share. This represents a $1.92 annualized dividend and a yield of 3.57%. The ex-dividend date was Tuesday, December 31st. Cardinal Health’s payout ratio is 36.36%.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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