Cardinal Health (NYSE:CAH) CEO Sells 35,000 Shares of Stock

Cardinal Health, Inc. (NYSE:CAH) CEO Stephen Mason sold 35,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the transaction, the chief executive officer owned 18,061 shares in the company, valued at approximately $4,269,620.40. This trade represents a 65.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cardinal Health Price Performance

CAH opened at $234.73 on Thursday. The business has a 50 day simple moving average of $231.76 and a 200-day simple moving average of $217.68. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The stock has a market capitalization of $54.59 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.26 and a beta of 0.49.

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

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.5158 dividend. 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%.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sigma Planning Corp boosted its position in Cardinal Health by 31.4% during the 2nd quarter. Sigma Planning Corp now owns 14,126 shares of the company’s stock worth $3,356,000 after purchasing an additional 3,379 shares during the period. Two Sigma Securities LLC purchased a new position in Cardinal Health in the second quarter valued at about $4,919,000. Benjamin Edwards Inc. raised its position in Cardinal Health by 18.6% in the second quarter. Benjamin Edwards Inc. now owns 9,136 shares of the company’s stock valued at $2,170,000 after purchasing an additional 1,435 shares during the period. Flputnam Investment Management Co. lifted its stake in shares of Cardinal Health by 0.8% during the second 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. boosted its position in shares of Cardinal Health by 0.4% in the second quarter. Cookson Peirce & Co. Inc. now owns 227,784 shares of the company’s stock worth $54,112,000 after buying an additional 963 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent research reports. Citigroup upped their target price on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Leerink Partners set a $292.00 target price on shares of Cardinal Health in a report on Tuesday, August 11th. Evercore reissued an “outperform” rating and set a $270.00 price objective on shares of Cardinal Health in a research note on Wednesday, August 12th. Bank of America raised their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, TD Cowen lifted their price target on Cardinal Health from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Sixteen equities research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $266.56.

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.