Cardinal Health's Q1 Revenue Misses Expectations; Analyst Boosts Price Target
CAH sits 43% above its 52-week low of $136.71.
Summary
Cardinal Health reported Q1 revenue of $60.94 billion, falling short of analyst estimates of $62.28 billion. The company also reported adjusted EPS of $3.17 and reiterated its full-year adjusted EPS guidance at approximately $10.75. While TD Cowen maintained a Buy rating and raised its price target to $255 from $251, the revenue miss is a significant update. This news follows yesterday's SEC filings (8-K and 10-Q) which reported Q3 results and guidance. The 'Q1' designation in this report is likely a typo for 'Q3', providing more specific details on the recently announced earnings. The reported revenue miss contradicts the 'strong Q3 non-GAAP results' previously highlighted in the 8-K, making this a material clarification for traders.
At the time of this announcement, CAH was trading at $195.24 on NYSE in the Life Sciences sector, with a market capitalization of approximately $45.9B. The 52-week trading range was $136.71 to $233.60. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.