Ola M. Snow Sells 19,590 Shares of Cardinal Health, Inc. (NYSE:CAH) Stock

Cardinal Health, Inc. (NYSE:CAHGet Rating) insider Ola M. Snow sold 19,590 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $78.87, for a total value of $1,545,063.30. Following the transaction, the insider now owns 31,187 shares in the company, valued at approximately $2,459,718.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cardinal Health Stock Down 2.8 %

NYSE CAH opened at $77.93 on Friday. Cardinal Health, Inc. has a fifty-two week low of $45.85 and a fifty-two week high of $81.57. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.38 and a beta of 0.80. The business has a fifty day moving average of $70.85 and a 200-day moving average of $62.50.

Cardinal Health (NYSE:CAHGet Rating) last released its quarterly earnings results on Thursday, August 11th. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.12). Cardinal Health had a negative return on equity of 252.82% and a negative net margin of 0.59%. The company had revenue of $47.10 billion during the quarter, compared to analyst estimates of $44.82 billion. During the same period last year, the firm earned $0.77 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Cardinal Health, Inc. will post 5.26 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Tuesday, January 3rd will be issued a $0.4957 dividend. The ex-dividend date is Friday, December 30th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.54%. Cardinal Health’s dividend payout ratio (DPR) is 32.35%.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Cardinal Health from $76.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday. Mizuho lifted their price target on Cardinal Health from $58.00 to $66.00 in a research note on Friday, August 12th. Robert W. Baird lifted their price target on Cardinal Health from $74.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Evercore ISI lifted their price target on Cardinal Health to $75.00 in a research note on Monday, August 15th. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.08.

Hedge Funds Weigh In On Cardinal Health

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Cardinal Health by 5.0% in the first quarter. BlackRock Inc. now owns 23,108,919 shares of the company’s stock worth $1,310,275,000 after acquiring an additional 1,109,613 shares during the last quarter. State Street Corp increased its stake in Cardinal Health by 2.1% in the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after purchasing an additional 457,777 shares during the last quarter. Invesco Ltd. increased its stake in Cardinal Health by 9.0% in the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after purchasing an additional 511,826 shares during the last quarter. Amundi increased its stake in Cardinal Health by 880.8% in the second quarter. Amundi now owns 5,043,836 shares of the company’s stock valued at $272,619,000 after purchasing an additional 4,529,560 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Cardinal Health by 2.8% in the first quarter. ProShare Advisors LLC now owns 3,098,173 shares of the company’s stock valued at $175,667,000 after purchasing an additional 84,919 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Company Profile

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Cardinal Health, Inc operates as an integrated 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.

Further Reading

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