Michelle Greene Sells 11,650 Shares of Cardinal Health (NYSE:CAH) Stock

Cardinal Health, Inc. (NYSE:CAH) insider Michelle Greene sold 11,650 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the sale, the insider directly owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cardinal Health Stock Performance

NYSE CAH opened at $234.73 on Thursday. The stock’s fifty day moving average is $231.76 and its two-hundred day moving average is $217.68. The firm has a market capitalization of $54.59 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. Cardinal Health, Inc. has a fifty-two week low of $145.87 and a fifty-two week high of $258.30.

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

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS lifted its position in shares of Cardinal Health by 100.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock worth $3,733,000 after buying an additional 9,120 shares during the last quarter. Abacus FCF Advisors LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $7,182,000. Byrne Financial Freedom LLC acquired a new position in Cardinal Health during the fourth quarter worth approximately $1,574,000. Belleair Asset Management LLC purchased a new position in shares of Cardinal Health during the fourth quarter worth approximately $1,100,000. Finally, Axecap Investments LLC acquired a new stake in Cardinal Health during the 4th quarter worth $2,371,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Wells Fargo & Company raised their price target 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. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $215.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Bank of America lifted their target price on Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, TD Cowen boosted their price objective 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.