Cardinal Health Inc (CAH) released its third quarter results on Friday, May 7, 2021. The company reported net earnings of $0.40 per share for the third quarter ending March 31, 2021. Earnings for this past quarter declined 66 percent compared to the same period a year ago.
Cardinal Health, Inc. was founded in 1979 and is headquartered in Dublin, Ohio. Cardinal Health, Inc. operates as an integrated healthcare services and products company in the United States and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
Cardinal Health's revenue increased 2 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 5.12% for the third quarter compared to the same period in the previous year, and operating margins increased to 1.76% over the same period. Net earnings for past trailing twelve months were $1151.0 million, up 128% from the prior year.
Moving on to the balance sheet, Cardinal Health's cash levels jumped 50% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 14.44% this past year. The current ratio for Cardinal Health now stands at 1.2. The company increased shares outstanding by 0.68%.
Shares of CAH are currently trading around $58.16. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 14.91 and price to book ratio of 9.53.