Michelle D. Greene Sells 4,000 Shares of Cardinal Health, Inc. (NYSE:CAH) Stock

Cardinal Health, Inc. (NYSE:CAH) insider Michelle D. Greene sold 4,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the sale, the insider now owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Cardinal Health Price Performance

Shares of CAH traded down $0.06 during mid-day trading on Monday, reaching $109.79. The stock had a trading volume of 1,301,328 shares, compared to its average volume of 2,149,500. Cardinal Health, Inc. has a 52-week low of $85.11 and a 52-week high of $116.04. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 48.80, a P/E/G ratio of 1.14 and a beta of 0.61. The business’s fifty day moving average is $99.60 and its 200 day moving average is $103.20.

Cardinal Health (NYSE:CAH) last posted its earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 earnings per share. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s payout ratio is 89.78%.

Institutional Trading of Cardinal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAH. Clearstead Trust LLC purchased a new position in shares of Cardinal Health in the fourth quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health in the second quarter worth $27,000. Raleigh Capital Management Inc. grew its stake in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after acquiring an additional 268 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health during the first quarter worth $32,000. Finally, LRI Investments LLC purchased a new position in Cardinal Health in the first quarter valued at $32,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CAH. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday. Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday. Argus reduced their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Morgan Stanley upped their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.45.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.