Cardinal Health, Inc. (NYSE:CAH) CEO Sells $2,908,570.92 in Stock

Cardinal Health, Inc. (NYSE:CAH) CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the transaction, the chief executive officer now owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cardinal Health Trading Up 0.7 %

CAH opened at $109.65 on Thursday. The company’s 50 day moving average is $99.80 and its 200 day moving average is $103.24. The company has a market cap of $26.71 billion, a price-to-earnings ratio of 48.73, a PEG ratio of 1.14 and a beta of 0.61. Cardinal Health, Inc. has a 12-month low of $85.11 and a 12-month high of $116.04.

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

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.85%. Cardinal Health’s payout ratio is 89.78%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAH. Citigroup reduced their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a report on Friday, August 16th. UBS Group upped their price target on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Robert W. Baird lifted their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company increased their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.45.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAH. Clearstead Trust LLC bought a new position in shares of Cardinal Health in the fourth quarter worth approximately $25,000. Cultivar Capital Inc. bought a new position in Cardinal Health in the 2nd quarter worth $27,000. Raleigh Capital Management Inc. increased its stake in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health during the second quarter valued at about $29,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of Cardinal Health in the first quarter valued at about $32,000. Institutional investors own 87.17% of the company’s stock.

About Cardinal Health

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.