Cardinal Health Insider Craig S. Morford Sells 43,359 Shares (CAH)
Cardinal Health (NYSE:CAH) Insider Craig S. Morford sold 43,359 shares of the company’s stock on the open market in a transaction dated Friday, August 8th. The stock was sold at an average price of $70.03, for a total transaction of $3,036,430.77. Following the transaction, the insider now directly owns 68,762 shares in the company, valued at approximately $4,815,403. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on CAH shares. Analysts at Barclays reiterated an “overweight” rating on shares of Cardinal Health in a research note on Tuesday, August 5th. They now have a $82.00 price target on the stock, up previously from $77.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, August 5th. They now have a $80.00 price target on the stock, up previously from $76.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Cardinal Health in a research note on Tuesday, August 5th. They now have a $74.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $78.03.
Shares of Cardinal Health (NYSE:CAH) traded up 0.42% on Monday, hitting $71.24. The stock had a trading volume of 1,526,235 shares. Cardinal Health has a 52 week low of $49.65 and a 52 week high of $74.40. The stock has a 50-day moving average of $70.6 and a 200-day moving average of $69.35. The company has a market cap of $24.150 billion and a price-to-earnings ratio of 20.99.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $21.88 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, analysts predict that Cardinal Health will post $4.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Monday, September 29th.
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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