Cardinal Health Inc. (CAH) Sees Large Volume Increase
Shares of Cardinal Health Inc. (NYSE:CAH) saw unusually-strong trading volume on Monday . Approximately 4,588,341 shares traded hands during trading, an increase of 101% from the previous session’s volume of 2,283,551 shares.The stock last traded at $82.41 and had previously closed at $83.60.
A number of equities analysts have recently weighed in on CAH shares. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $105.00 target price on shares of Cardinal Health in a research note on Friday, April 15th. Vetr lowered Cardinal Health from a “strong-buy” rating to a “buy” rating and set a $91.44 price objective on the stock. in a research note on Monday, April 11th. Leerink Swann restated a “buy” rating on shares of Cardinal Health in a research note on Monday, May 2nd. Royal Bank Of Canada restated a “buy” rating on shares of Cardinal Health in a research note on Monday, June 13th. Finally, FBR & Co restated a “buy” rating on shares of Cardinal Health in a research note on Monday, June 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $97.57.
The firm’s 50 day moving average is $79.80 and its 200-day moving average is $80.51. The stock has a market cap of $26.85 billion and a P/E ratio of 19.72.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were paid a $0.4489 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $1.80 annualized dividend and a yield of 2.18%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.39.
In related news, insider Carole S. Watkins sold 84,617 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $77.33, for a total value of $6,543,432.61. Following the transaction, the insider now owns 116,202 shares in the company, valued at $8,985,900.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Several large investors recently bought and sold shares of CAH. KBC Group NV increased its stake in Cardinal Health by 1.2% in the fourth quarter. KBC Group NV now owns 146,039 shares of the company’s stock valued at $13,037,000 after buying an additional 1,725 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Cardinal Health by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 648,883 shares of the company’s stock valued at $57,932,000 after buying an additional 36,179 shares in the last quarter. Stephens Inc. AR bought a new stake in Cardinal Health during the fourth quarter valued at about $1,578,000. I.G. Investment Management LTD. increased its stake in Cardinal Health by 296.1% in the fourth quarter. I.G. Investment Management LTD. now owns 279,271 shares of the company’s stock valued at $24,931,000 after buying an additional 208,768 shares in the last quarter. Finally, Redwood Investments LLC increased its stake in Cardinal Health by 31.1% in the fourth quarter. Redwood Investments LLC now owns 228,647 shares of the company’s stock valued at $20,411,000 after buying an additional 54,185 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.