Barclays on U.S. Health Care Distribution & Technology: Earnings Preview on ABC, MCK and CAH
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Price: $179.98 --0%
Rating Summary:
16 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
16 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Barclays on U.S. Health Care Distribution & Technology: Earnings Preview on ABC, MCK and CAH
Analyst, Lawrence C. Marsh, on AmerisourceBergen (NYSE: ABC) (reporting on April 26) - we estimate $.80 in EPS for Q2, at $2.78 for FY12 remaining somewhat the mid-point of its guided year range of $2.74-2.84. We are lowering our Q3 EPS estimate, but offsetting that with a better Q4, rounding our FY13 EPS estimate up to $3.22, and now highlighting some 17%+ upside having opened up between the current share price and our one-year price target.
On McKesson (NYSE: MKC) (April 30) - we are estimating initial FY13 guidance in the $7.05-7.25 range, implying a mid-point ($7.15) slightly below us ($7.20) and consensus (though company history highlighting its initial guidance read is usually $.15+ conservative (with FY12 even more so), and recent quarters being well above general consensus. The Katz Group, as we know, should provide a nice offset to lower VA margins this fiscal year, with cash flows continuing to be flexibly deployed to drive EPS accretion.
For Cardinal Health (NYSE: CAH): Sees quarterly beat to $0.87 estimate on strong drug quarter (offset by lower medical supply sales). There is concerns from ongoing issues, but hope in catch-up vs. group and long-term continued growth.
Analyst, Lawrence C. Marsh, on AmerisourceBergen (NYSE: ABC) (reporting on April 26) - we estimate $.80 in EPS for Q2, at $2.78 for FY12 remaining somewhat the mid-point of its guided year range of $2.74-2.84. We are lowering our Q3 EPS estimate, but offsetting that with a better Q4, rounding our FY13 EPS estimate up to $3.22, and now highlighting some 17%+ upside having opened up between the current share price and our one-year price target.
On McKesson (NYSE: MKC) (April 30) - we are estimating initial FY13 guidance in the $7.05-7.25 range, implying a mid-point ($7.15) slightly below us ($7.20) and consensus (though company history highlighting its initial guidance read is usually $.15+ conservative (with FY12 even more so), and recent quarters being well above general consensus. The Katz Group, as we know, should provide a nice offset to lower VA margins this fiscal year, with cash flows continuing to be flexibly deployed to drive EPS accretion.
For Cardinal Health (NYSE: CAH): Sees quarterly beat to $0.87 estimate on strong drug quarter (offset by lower medical supply sales). There is concerns from ongoing issues, but hope in catch-up vs. group and long-term continued growth.
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