Insider Selling: Cardinal Health EVP Unloads 4,703 Shares of Stock (CAH)
Cardinal Health (NYSE:CAH) EVP Mark R. Blake sold 4,703 shares of the stock on the open market in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $66.50, for a total value of $312,749.50. Following the transaction, the executive vice president now directly owns 24,416 shares in the company, valued at approximately $1,623,664. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Cardinal Health (NYSE:CAH) traded down 0.53% during mid-day trading on Tuesday, hitting $66.20. The stock had a trading volume of 1,660,703 shares. Cardinal Health has a 1-year low of $45.59 and a 1-year high of $74.40. The stock has a 50-day moving average of $67.19 and a 200-day moving average of $67.46. The company has a market cap of $22.521 billion and a P/E ratio of 66.55.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.01 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.01. The company had revenue of $21.40 million for the quarter, compared to the consensus estimate of $21.72 million. During the same quarter in the prior year, the company posted $1.02 earnings per share. The company’s quarterly revenue was down 12.7% on a year-over-year basis. On average, analysts predict that Cardinal Health will post $3.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, June 27th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.30.
A number of analysts have recently weighed in on CAH shares. Analysts at Credit Suisse cut their price target on shares of Cardinal Health from $80.00 to $76.00 in a research note on Monday, May 5th. They now have an “outperform” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Cardinal Health in a research note on Friday, May 2nd. They now have a $77.00 price target on the stock. Finally, analysts at Mizuho cut their price target on shares of Cardinal Health from $79.00 to $77.00 in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Cardinal Health has a consensus rating of “Buy” and a consensus target price of $75.97.
Cardinal Health, Inc is a healthcare services company providing pharmaceutical and medical products and services to pharmacies, hospitals, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.
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