Cardinal Health (NYSE:CAH) Insider Sells $6,952,488.84 in Stock

Key Points

• Cardinal Health insider Jessica Mayer sold 29,436 shares for approximately $6.95 million at an average price of $236.19, reducing her direct ownership by 47.09% to 33,076 shares.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates by $0.49; revenue rose 5.8% year over year to $63.67 billion but fell short of expectations.
• The company declared a quarterly dividend of $0.5158 per share, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $266.56.

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) insider Jessica Mayer sold 29,436 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total transaction of $6,952,488.84. Following the sale, the insider directly owned 33,076 shares in the company, valued at $7,812,220.44. The trade was a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cardinal Health Stock Down 0.1%

Shares of NYSE:CAH opened at $234.73 on Thursday. The business has a fifty 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 firm has a market cap 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 - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating the consensus estimate 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 business had revenue of $63.67 billion for the quarter, compared to analysts' expectations of $65.15 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 12.54 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health's payout ratio is presently 28.49%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a report on Friday, June 12th. UBS Group lifted their price target on shares of Cardinal Health from $274.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Barclays upped their price objective on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Finally, Mizuho raised their price objective on Cardinal Health from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $266.56.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds have recently modified their holdings of CAH. Investors Research Corp purchased a new stake in Cardinal Health in the second quarter worth $29,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health during the 4th quarter worth $26,000. Allied Private Wealth LLC bought a new position in shares of Cardinal Health during the 2nd quarter worth $30,000. Bank of Jackson Hole Trust purchased a new stake in Cardinal Health in the 4th quarter worth about $27,000. Finally, Indiana Trust & Investment Management Co purchased a new stake in Cardinal Health during the first quarter valued at about $29,000. Institutional investors own 87.17% of the company's stock.

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.

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