Michelle D. Greene Sells 4,000 Shares of Cardinal Health, Inc. (NYSE:CAH) Stock

Cardinal Health, Inc. (NYSE:CAH) insider Michelle D. Greene sold 4,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the transaction, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Cardinal Health Price Performance

NYSE:CAH traded down $0.06 during trading hours on Monday, reaching $109.79. 1,301,328 shares of the stock were exchanged, compared to its average volume of 2,149,500. The firm has a 50 day moving average of $99.60 and a 200 day moving average of $103.20. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The stock has a market cap of $26.74 billion, a PE ratio of 48.80, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same period last year, the business earned $1.55 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.84%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. raised its position in shares of Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after purchasing an additional 370,181 shares during the period. Acadian Asset Management LLC lifted its position in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after acquiring an additional 598,002 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Cardinal Health by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after purchasing an additional 14,030 shares during the period. Norges Bank acquired a new position in Cardinal Health in the 4th quarter valued at $258,499,000. Finally, ProShare Advisors LLC increased its position in Cardinal Health by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after buying an additional 85,247 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CAH shares. Morgan Stanley increased their price target on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird raised their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday. Citigroup lowered their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Argus reduced their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $117.45.

Cardinal Health Company Profile

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.