Insider Selling: Cardinal Health (NYSE:CAH) CEO Sells $18,859,200.00 in Stock

Cardinal Health, Inc. (NYSE:CAH) CEO Jason Hollar sold 80,000 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.74, for a total value of $18,859,200.00. Following the sale, the chief executive officer owned 235,132 shares of the company’s stock, valued at approximately $55,430,017.68. This represents a 25.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Cardinal Health Trading Down 0.1%

NYSE:CAH opened at $234.73 on Thursday. Cardinal Health, Inc. has a 12-month low of $145.87 and a 12-month high of $258.30. The firm has a market cap of $54.59 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. The company’s 50-day moving average is $231.76 and its two-hundred day moving average is $217.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The business had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities research analysts forecast that Cardinal Health, Inc. will post 12.54 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio is currently 28.49%.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors have recently added to or reduced their stakes in CAH. Sigma Planning Corp increased its stake in Cardinal Health by 31.4% during the second quarter. Sigma Planning Corp now owns 14,126 shares of the company’s stock worth $3,356,000 after acquiring an additional 3,379 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of Cardinal Health in the 2nd quarter valued at about $4,919,000. Benjamin Edwards Inc. grew its holdings in shares of Cardinal Health by 18.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 9,136 shares of the company’s stock worth $2,170,000 after purchasing an additional 1,435 shares during the period. Flputnam Investment Management Co. increased its position in Cardinal Health by 0.8% during the 2nd quarter. Flputnam Investment Management Co. now owns 70,728 shares of the company’s stock worth $16,802,000 after purchasing an additional 535 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. increased its position in Cardinal Health by 0.4% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 227,784 shares of the company’s stock worth $54,112,000 after purchasing an additional 963 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CAH. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Morgan Stanley raised their price target on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Bank of America upped their price objective on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Wells Fargo & Company increased their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Finally, TD Cowen boosted their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $266.56.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.