Jason Hollar Sells 44,529 Shares of Cardinal Health (NYSE:CAH) Stock

Cardinal Health, Inc. (NYSE:CAH) CEO Jason Hollar sold 44,529 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total value of $10,516,859.22. Following the sale, the chief executive officer owned 190,603 shares in the company, valued at approximately $45,016,616.54. This trade represents a 18.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Cardinal Health Stock Down 0.1%

NYSE CAH opened at $234.73 on Thursday. The company has a market capitalization of $54.59 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.26 and a beta of 0.49. Cardinal Health, Inc. has a twelve month low of $145.87 and a twelve month high of $258.30. The stock has a fifty day simple moving average of $231.76 and a 200 day simple moving average of $217.68.

Cardinal Health (NYSE:CAH) 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. Research analysts expect that Cardinal Health, Inc. will post 12.54 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a $0.5158 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup raised their target price on Cardinal Health from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada initiated coverage on Cardinal Health in a report on Wednesday. They set an “outperform” rating and a $276.00 price target on the stock. Weiss Ratings raised shares of Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 5th. Morgan Stanley lifted their price objective on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, TD Cowen increased their target price on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $266.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC increased its holdings in shares of Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after acquiring an additional 280 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Cardinal Health in the 2nd quarter worth $1,935,000. Cerity Partners LLC grew its position in Cardinal Health by 17.0% in the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock valued at $6,792,000 after purchasing an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC grew its position in Cardinal Health by 34.4% in the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock valued at $1,736,000 after purchasing an additional 2,646 shares during the period. 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.