Cardinal Health (CAH) Releases Quarterly Earnings Results

Cardinal Health (NYSE:CAH) released its quarterly earnings results on Thursday. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.17, Morningstar.com reports. Cardinal Health had a net margin of 0.84% and a return on equity of 25.24%. The company had revenue of $35.19 billion for the quarter, compared to analysts’ expectations of $34.63 billion. During the same period last year, the company earned $1.34 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Cardinal Health updated its FY18 guidance to $5.25-$5.50 EPS.

Cardinal Health (NYSE CAH) opened at $66.56 on Friday. Cardinal Health has a 1-year low of $54.66 and a 1-year high of $84.88. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52. The company has a market cap of $20,493.28, a P/E ratio of 19.37, a P/E/G ratio of 1.48 and a beta of 0.96.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, April 2nd will be issued a dividend of $0.4624 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.78%. Cardinal Health’s payout ratio is currently 53.78%.

Several equities research analysts have issued reports on CAH shares. Morgan Stanley cut shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 20th. Deutsche Bank began coverage on shares of Cardinal Health in a report on Monday, December 4th. They set a “hold” rating and a $64.00 price objective on the stock. Argus lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cardinal Health in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $74.61.

In related news, CEO Michael C. Kaufmann sold 18,586 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $73.90, for a total value of $1,373,505.40. Following the transaction, the chief executive officer now owns 211,849 shares in the company, valued at $15,655,641.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Farmers National Bank raised its holdings in Cardinal Health by 1.9% in the second quarter. Farmers National Bank now owns 4,902 shares of the company’s stock valued at $382,000 after buying an additional 90 shares during the period. Advisory Services Network LLC raised its holdings in Cardinal Health by 18.4% in the second quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after buying an additional 270 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Cardinal Health by 2.3% in the second quarter. Ameritas Investment Partners Inc. now owns 15,232 shares of the company’s stock valued at $1,185,000 after buying an additional 345 shares during the period. Colony Group LLC raised its holdings in Cardinal Health by 2.0% in the second quarter. Colony Group LLC now owns 19,571 shares of the company’s stock valued at $1,525,000 after buying an additional 388 shares during the period. Finally, Scotia Capital Inc. raised its holdings in Cardinal Health by 12.5% in the second quarter. Scotia Capital Inc. now owns 4,108 shares of the company’s stock valued at $320,000 after buying an additional 456 shares during the period. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Cardinal Health declared that its board has approved a stock buyback plan on Thursday, February 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: “Cardinal Health (CAH) Releases Quarterly Earnings Results” was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://sportsperspectives.com/2018/02/08/cardinal-health-cah-issues-earnings-results-beats-estimates-by-0-16-eps.html.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

Earnings History for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply