Cardinal Health (NYSE:CAH – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $5.05-$5.40 for the period, compared to the consensus estimate of $5.32. The company issued revenue guidance of -.

Cardinal Health Stock Down 1.8 %

Cardinal Health stock traded down $1.22 during midday trading on Friday, reaching $68.22. The company's stock had a trading volume of 2,669,074 shares, compared to its average volume of 3,162,168. Cardinal Health has a fifty-two week low of $45.85 and a fifty-two week high of $72.28. The company has a market cap of $17.87 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.25 and a beta of 0.76. The business has a 50-day simple moving average of $67.39 and a 200-day simple moving average of $60.28.

Cardinal Health (NYSE:CAH – Get Rating) last posted its quarterly earnings results on Thursday, August 11th. The company reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.12). The business had revenue of $47.10 billion during the quarter, compared to analyst estimates of $44.82 billion. Cardinal Health had a negative net margin of 0.51% and a positive return on equity of 568.57%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, equities analysts forecast that Cardinal Health will post 5.21 earnings per share for the current year.

Cardinal Health Announces Dividend

Analyst Ratings Changes

A number of research firms recently issued reports on CAH. Morgan Stanley raised their price target on Cardinal Health from $70.00 to $76.00 and gave the stock an overweight rating in a report on Monday, August 22nd. Credit Suisse Group raised their price target on Cardinal Health from $56.00 to $64.00 and gave the stock a neutral rating in a report on Friday, August 12th. Evercore ISI raised their price target on Cardinal Health to $75.00 in a report on Monday, August 15th. Cowen raised their price objective on shares of Cardinal Health from $59.00 to $72.00 and gave the company a market perform rating in a research report on Tuesday, August 16th. Finally, StockNews.com upgraded shares of Cardinal Health from a buy rating to a strong-buy rating in a research report on Friday, August 12th. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of Hold and an average price target of $70.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAH. Parkside Financial Bank & Trust grew its stake in Cardinal Health by 300.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 957 shares of the company's stock worth $54,000 after acquiring an additional 718 shares during the period. Covestor Ltd grew its stake in shares of Cardinal Health by 29.1% during the 1st quarter. Covestor Ltd now owns 3,002 shares of the company's stock valued at $170,000 after buying an additional 676 shares during the period. Cibc World Market Inc. purchased a new stake in shares of Cardinal Health during the 1st quarter valued at $212,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Cardinal Health during the 1st quarter valued at $224,000. Finally, Mather Group LLC. purchased a new stake in shares of Cardinal Health during the 1st quarter valued at $225,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Company Profile

(Get Rating)

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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