Cardinal Health (NYSE:CAH) CEO Sells 7,354 Shares of Stock

Cardinal Health, Inc. (NYSE:CAH) CEO Deborah Weitzman sold 7,354 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. This represents a 8.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cardinal Health Trading Down 0.1%

CAH stock opened at $234.73 on Thursday. The business’s 50-day moving average price is $231.76 and its two-hundred day moving average price is $217.68. The firm has a market cap of $54.59 billion, a PE ratio of 32.47, a P/E/G ratio of 1.26 and a beta of 0.49. Cardinal Health, Inc. has a 1-year low of $145.87 and a 1-year high of $258.30.

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

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio is presently 28.49%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CAH shares. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Evercore restated an “outperform” rating and set a $270.00 price objective on shares of Cardinal Health in a report on Wednesday, August 12th. Mizuho boosted their price objective on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Morgan Stanley increased their target price on Cardinal Health from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Finally, Citigroup lifted their price target on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $266.56.

Institutional Trading of Cardinal Health

A number of institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC grew its position in Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Cardinal Health during the 2nd quarter worth about $1,935,000. Cerity Partners LLC boosted its stake in shares of Cardinal Health by 17.0% during the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after buying an additional 5,880 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its stake in shares of Cardinal Health by 34.4% during the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after buying an additional 2,646 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

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.