Cardinal Health Inc CAH reported better-than-expected earnings for its fourth quarter on Wednesday.
Cardinal Health reported fourth-quarter 2024 adjusted EPS of $1.84, up 29% year over year, beating the consensus of $1.73.
Sales increased 12% to $59.87 billion, beating the consensus of $58.64 billion. The pharmaceutical segment revenue increased 12% to $55.6 billion, driven by brand and specialty pharmaceutical sales growth from existing customers.
Cardinal Health raised its fiscal year 2025 adjusted EPS guidance to $7.55-$7.70 from the preliminary outlook of at least $7.50 versus the consensus of $7.53.
The company updated its Pharmaceutical and Specialty Solutions segment profit growth outlook to 1%-3% growth from at least 1%. For the Global Medical Products and Distribution segment, the company expects revenue growth of 3%-5%. Overall revenue is expected to grow between 10%-12%.
"We enter the new fiscal year with momentum and confidence, evidenced by our raised fiscal year 2025 guidance," said Jason Hollar, CEO of Cardinal Health.
Cardinal Health shares closed at $106.36 on Wednesday.
These analysts made changes to their price targets on Cardinal Health following earnings announcement.
- Baird analyst Eric Coldwell maintained Cardinal Health with an Outperform and raised the price target from $130 to $137.
- Evercore ISI Group analyst Elizabeth Anderson maintained Cardinal Health with an In-Line and boosted the price target from $105 to $115.
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