Insider Selling: Cardinal Health, Inc. (NYSE:CAH) Insider Sells $435,400.00 in Stock

Cardinal Health, Inc. (NYSE:CAH) insider Michelle D. Greene sold 4,000 shares of the business’s stock in a transaction that occurred 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $109.65 on Thursday. The stock has a fifty day moving average price of $99.80 and a 200 day moving average price of $103.24. Cardinal Health, Inc. has a 1-year low of $85.11 and a 1-year high of $116.04. The company has a market cap of $26.71 billion, a PE ratio of 48.73, a P/E/G ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released 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. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter last year, the company earned $1.55 earnings per share. Cardinal Health’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CAH shares. Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. UBS Group raised their target price on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, Citigroup lowered 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.45.

Institutional Investors Weigh In On Cardinal Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clearstead Trust LLC acquired a new stake in Cardinal Health in the fourth quarter valued at $25,000. Cultivar Capital Inc. acquired a new stake in Cardinal Health in the second quarter valued at $27,000. Raleigh Capital Management Inc. raised its stake in shares of Cardinal Health by 4,466.7% during 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 during the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Cardinal Health during the 1st quarter worth $32,000. Finally, LRI Investments LLC acquired a new position in shares of Cardinal Health during the 1st quarter worth $32,000. Institutional investors and hedge funds 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.