Cardinal Health (NYSE:CAH) Shares Down 1.5% Following Insider Selling

Cardinal Health, Inc. (NYSE:CAH)’s stock price dropped 1.5% during trading on Friday following insider selling activity. The company traded as low as $148.88 and last traded at $149.26. Approximately 386,097 shares traded hands during trading, a decline of 84% from the average daily volume of 2,409,848 shares. The stock had previously closed at $151.57.

Specifically, CEO Jason M. Hollar sold 35,901 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $150.04, for a total value of $5,386,586.04. Following the transaction, the chief executive officer directly owned 200,000 shares of the company’s stock, valued at approximately $30,008,000. The trade was a 15.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ola M. Snow sold 28,151 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total value of $4,192,809.94. Following the completion of the transaction, the insider directly owned 15,431 shares in the company, valued at approximately $2,298,293.14. This represents a 64.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider Jessica L. Mayer sold 38,078 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $5,666,767.96. Following the transaction, the insider directly owned 48,457 shares of the company’s stock, valued at approximately $7,211,370.74. The trade was a 44.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

CAH has been the topic of several recent research reports. Leerink Partners decreased their price objective on Cardinal Health from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Jefferies Financial Group set a $150.00 price objective on Cardinal Health in a report on Tuesday, August 12th. UBS Group reaffirmed a “buy” rating on shares of Cardinal Health in a report on Tuesday, August 12th. Bank of America upped their price objective on Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $185.00 price objective (up from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.20.

Cardinal Health Trading Down 2.3%

The stock has a market cap of $35.35 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.28 and a beta of 0.67. The company has a 50-day moving average price of $159.02 and a two-hundred day moving average price of $145.33.

Cardinal Health (NYSE:CAH) last released its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $60.16 billion for the quarter, compared to the consensus estimate of $60.91 billion. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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

Hedge Funds Weigh In On Cardinal Health

Large investors have recently modified their holdings of the stock. First Trust Advisors LP grew its position in Cardinal Health by 39.9% in the 4th quarter. First Trust Advisors LP now owns 222,764 shares of the company’s stock valued at $26,346,000 after acquiring an additional 63,535 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Cardinal Health by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,238,848 shares of the company’s stock valued at $146,517,000 after acquiring an additional 15,212 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in Cardinal Health by 253.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,358 shares of the company’s stock valued at $279,000 after acquiring an additional 1,690 shares during the last quarter. Stifel Financial Corp grew its position in Cardinal Health by 0.6% in the 4th quarter. Stifel Financial Corp now owns 157,562 shares of the company’s stock valued at $18,635,000 after acquiring an additional 907 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Cardinal Health by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,601,322 shares of the company’s stock valued at $189,390,000 after acquiring an additional 55,781 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

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.