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

Key Points

• Cardinal Health insider Michelle Greene sold 11,650 shares at an average price of $235.72, generating approximately $2.75 million. Following the transaction, her direct ownership fell 53% to 10,330 shares.
• Cardinal Health reported quarterly EPS of $2.91, beating analyst expectations of $2.42, while revenue rose 5.8% year over year to $63.67 billion but fell short of estimates.
• Analysts remain broadly positive, with 16 Buy ratings and three Holds and an average price target of $266.56. The company also declared a quarterly dividend of $0.5158 per share, equivalent to an annualized yield of about 0.9%.

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) insider Michelle Greene sold 11,650 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the sale, the insider directly owned 10,330 shares in the company, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cardinal Health Stock Down 0.1%

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

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. Cardinal Health's revenue for the quarter was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, sell-side analysts expect that Cardinal Health, Inc. will post 12.54 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health's dividend payout ratio (DPR) is currently 28.49%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Investors Research Corp purchased a new stake in shares of Cardinal Health during the second quarter worth $29,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cardinal Health in the fourth quarter worth about $26,000. Allied Private Wealth LLC purchased a new position in shares of Cardinal Health in the second quarter worth about $30,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health during the fourth quarter worth about $27,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Cardinal Health during the first quarter worth about $29,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAH. UBS Group upped their price objective on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Weiss Ratings raised shares of Cardinal Health from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, August 5th. Wells Fargo & Company upped their price target on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Barclays raised their price target on shares of Cardinal Health from $258.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada initiated coverage on Cardinal Health in a report on Wednesday. They issued an "outperform" rating and a $276.00 price objective on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.

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