Traders Sell Cardinal Health Inc. (CAH) on Strength (CAH)
Investors sold shares of Cardinal Health Inc. (NYSE:CAH) on strength during trading hours on Tuesday. $16.40 million flowed into the stock on the tick-up and $44.21 million flowed out of the stock on the tick-down, for a money net flow of $27.81 million out of the stock. Of all stocks tracked, Cardinal Health had the 0th highest net out-flow for the day. Cardinal Health traded up $0.42 for the day and closed at $79.77
Several brokerages have commented on CAH. Citigroup Inc. boosted their target price on shares of Cardinal Health from $87.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Raymond James Financial Inc. lowered shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 1st. Leerink Swann reiterated a “buy” rating on shares of Cardinal Health in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Cardinal Health in a research report on Monday, June 13th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $96.10.
The company’s 50-day moving average price is $82.63 and its 200-day moving average price is $80.98. The company has a market capitalization of $25.40 billion and a P/E ratio of 18.45.
Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The firm had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $31.06 billion. During the same period in the prior year, the business earned $1.00 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, analysts forecast that Cardinal Health Inc. will post $5.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be paid a dividend of $0.4489 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.80 annualized dividend and a yield of 2.25%.
In related news, CEO Donald M. Jr. Casey sold 59,180 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $83.59, for a total transaction of $4,946,856.20. Following the completion of the transaction, the chief executive officer now owns 164,803 shares of the company’s stock, valued at $13,775,882.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stuart G. Laws sold 9,703 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $82.45, for a total value of $800,012.35. Following the transaction, the senior vice president now directly owns 2,718 shares of the company’s stock, valued at approximately $224,099.10. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Cardinal Health stock. American International Group Inc. boosted its stake in shares of Cardinal Health Inc. (NYSE:CAH) by 1.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,176 shares of the company’s stock after buying an additional 1,664 shares during the period. American International Group Inc.’s holdings in Cardinal Health were worth $13,139,000 as of its most recent SEC filing.
Cardinal Health, Inc is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States, the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers, hospitals and other healthcare providers.
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