Insider Selling: Cardinal Health (NYSE:CAH) Insider Sells 13,500 Shares of Stock

Key Points

• Michelle Greene, an insider at Cardinal Health, sold 13,500 shares valued at approximately $2 million, which is a 47.41% decrease in her ownership of the stock.
• Cardinal Health reported earnings of $2.08 per share for the last quarter, slightly exceeding analysts' estimates of $2.03, while its quarterly revenue was $60.16 billion, below the expected $60.91 billion.
• The company has declared a quarterly dividend of $0.5107 per share, which will be paid on October 15th, representing an annualized yield of 1.4%.

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) insider Michelle Greene sold 13,500 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares of the company's stock, valued at $2,228,728.32. The trade was a 47.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Cardinal Health Stock Down 0.5%

Shares of NYSE CAH traded down $0.6910 during midday trading on Tuesday, reaching $149.0390. The company had a trading volume of 2,076,613 shares, compared to its average volume of 2,415,189. Cardinal Health, Inc. has a one year low of $106.54 and a one year high of $168.44. The firm's fifty day moving average price is $159.47 and its 200-day moving average price is $144.94. The stock has a market cap of $35.59 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.26 and a beta of 0.67.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. During the same quarter in the previous year, the company posted $1.84 EPS. Cardinal Health's revenue for the quarter was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. Cardinal Health's dividend payout ratio is presently 31.63%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB raised its stake in Cardinal Health by 3.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,767 shares of the company's stock valued at $297,000 after buying an additional 62 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Cardinal Health by 0.4% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,805 shares of the company's stock valued at $2,991,000 after buying an additional 69 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company's stock valued at $34,000 after buying an additional 71 shares during the last quarter. Perigon Wealth Management LLC raised its stake in Cardinal Health by 3.2% during the second quarter. Perigon Wealth Management LLC now owns 2,314 shares of the company's stock valued at $389,000 after buying an additional 72 shares during the last quarter. Finally, Community Bank & Trust Waco Texas raised its stake in Cardinal Health by 1.3% during the second quarter. Community Bank & Trust Waco Texas now owns 5,598 shares of the company's stock valued at $940,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company reaffirmed an "overweight" rating and set a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a research report on Wednesday, August 13th. Robert W. Baird upped their price target on Cardinal Health from $197.00 to $203.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. UBS Group reaffirmed a "buy" rating on shares of Cardinal Health in a research report on Tuesday, August 12th. Jefferies Financial Group set a $150.00 price target on Cardinal Health in a research report on Tuesday, August 12th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $163.20.

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.

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