Mary Scherer Sells 6,766 Shares of Cardinal Health (NYSE:CAH) Stock

Key Points

• Mary Scherer, the Chief Accounting Officer of Cardinal Health, sold 6,766 shares of the company's stock for approximately $1.01 million, resulting in a 65.55% decrease in her ownership.
• Cardinal Health reported earnings of $2.08 per share for the last quarter, exceeding expectations, while quarterly revenue reached $60.16 billion, slightly below forecasts.
• The company has declared a quarterly dividend of $0.5107 per share, with a payment date set for October 15th, representing a 1.4% yield based on the current annualized rate.

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) CAO Mary Scherer sold 6,766 shares of Cardinal Health stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $149.25, for a total transaction of $1,009,825.50. Following the transaction, the chief accounting officer directly owned 3,556 shares in the company, valued at approximately $530,733. This represents a 65.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cardinal Health Price Performance

Shares of NYSE CAH traded down $0.6910 during midday trading on Tuesday, reaching $149.0390. 2,076,613 shares of the stock were exchanged, compared to its average volume of 2,415,189. The business has a 50-day simple moving average of $159.47 and a two-hundred day simple moving average of $144.94. The company has a market capitalization of $35.59 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 1.26 and a beta of 0.67. Cardinal Health, Inc. has a 12 month low of $106.54 and a 12 month high of $168.44.

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

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's payout ratio is currently 31.63%.

Hedge Funds Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its stake in Cardinal Health by 3.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,767 shares of the company's stock valued at $297,000 after purchasing an additional 62 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of 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 worth $2,991,000 after buying an additional 69 shares during the period. 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 worth $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 worth $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 worth $940,000 after buying an additional 74 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CAH shares. Morgan Stanley reiterated an "overweight" rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Jefferies Financial Group set a $150.00 price target on shares of Cardinal Health in a research note on Tuesday, August 12th. Citigroup restated a "neutral" rating and set a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Leerink Partners lowered their price objective on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cardinal Health currently 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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