Cardinal Health Inc (NYSE:CAH) Expected to Post Quarterly Sales of $36.94 Billion

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Analysts expect Cardinal Health Inc (NYSE:CAH) to report $36.94 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Cardinal Health’s earnings, with estimates ranging from $36.56 billion to $37.30 billion. Cardinal Health reported sales of $35.35 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The business is scheduled to issue its next quarterly earnings results on Monday, August 5th.

According to Zacks, analysts expect that Cardinal Health will report full year sales of $144.82 billion for the current year, with estimates ranging from $143.31 billion to $145.48 billion. For the next year, analysts forecast that the company will post sales of $150.93 billion, with estimates ranging from $148.66 billion to $152.74 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Cardinal Health.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 9th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.16. The company had revenue of $35.23 billion for the quarter, compared to analysts’ expectations of $35.09 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year.

Several research firms have issued reports on CAH. Zacks Investment Research cut Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Wolfe Research began coverage on Cardinal Health in a research note on Tuesday, April 2nd. They set an “underperform” rating for the company. Guggenheim began coverage on Cardinal Health in a research note on Wednesday, April 17th. They set a “neutral” rating and a $51.00 target price for the company. Finally, ValuEngine raised Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Cardinal Health has a consensus rating of “Hold” and a consensus price target of $56.20.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc lifted its holdings in shares of Cardinal Health by 22.0% in the 3rd quarter. Vanguard Group Inc now owns 28,021,950 shares of the company’s stock valued at $1,513,186,000 after purchasing an additional 5,058,369 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Cardinal Health by 8.9% in the 4th quarter. BlackRock Inc. now owns 26,135,772 shares of the company’s stock valued at $1,165,655,000 after purchasing an additional 2,134,377 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Cardinal Health by 3.0% in the 1st quarter. Macquarie Group Ltd. now owns 13,993,813 shares of the company’s stock valued at $673,802,000 after purchasing an additional 402,707 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Cardinal Health by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 8,119,896 shares of the company’s stock valued at $362,149,000 after purchasing an additional 290,620 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in shares of Cardinal Health by 6.2% in the 4th quarter. American International Group Inc. now owns 7,831,671 shares of the company’s stock valued at $349,293,000 after purchasing an additional 460,358 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Cardinal Health stock traded down $0.91 during trading on Tuesday, reaching $44.36. 57,052 shares of the company were exchanged, compared to its average volume of 2,435,472. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.54 and a current ratio of 1.07. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.40 and a beta of 1.20. Cardinal Health has a 52-week low of $42.01 and a 52-week high of $58.31.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.4811 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.34%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, June 28th. Cardinal Health’s payout ratio is 38.20%.

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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