Insider Selling: Cardinal Health, Inc. (NYSE:CAH) Insider Sells 17,896 Shares of Stock

Cardinal Health, Inc. (NYSE:CAH) insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cardinal Health Price Performance

CAH stock traded down $0.06 during trading on Monday, reaching $109.79. 1,301,328 shares of the company were exchanged, compared to its average volume of 2,149,500. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The company has a 50-day moving average of $99.60 and a two-hundred day moving average of $103.20. The company has a market capitalization of $26.74 billion, a price-to-earnings ratio of 48.80, a P/E/G ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) 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 firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same period in the prior year, the company posted $1.55 EPS. The company’s revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.506 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.84%. The ex-dividend date is Tuesday, October 1st. Cardinal Health’s dividend payout ratio is 89.78%.

Hedge Funds Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. J. W. Coons Advisors LLC boosted its stake in shares of Cardinal Health by 0.6% in the 4th quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock valued at $1,681,000 after purchasing an additional 100 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC boosted its stake in shares of Cardinal Health by 5.0% in the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after purchasing an additional 100 shares during the last quarter. Midland Wealth Advisors LLC boosted its stake in shares of Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after purchasing an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAH shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday. Robert W. Baird raised their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group lifted their price objective on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.45.

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.