Investors Sell Shares of Cardinal Health Inc. (CAH) on Strength (CAH)
Traders sold shares of Cardinal Health Inc. (NYSE:CAH) on strength during trading hours on Monday. $15.12 million flowed into the stock on the tick-up and $31.08 million flowed out of the stock on the tick-down, for a money net flow of $15.96 million out of the stock. Of all equities tracked, Cardinal Health had the 0th highest net out-flow for the day. Cardinal Health traded up $0.43 for the day and closed at $82.15
Several analysts recently weighed in on CAH shares. Vetr upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating and set a $95.36 price target on the stock in a report on Friday, April 29th. Leerink Swann restated a “buy” rating on shares of Cardinal Health in a report on Monday, May 2nd. Raymond James Financial Inc. lowered Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 1st. Bank of America Corp. reiterated a “neutral” rating and issued a $83.00 target price on shares of Cardinal Health in a research note on Tuesday, June 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Cardinal Health in a research note on Monday, June 13th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Cardinal Health currently has a consensus rating of “Buy” and an average price target of $96.45.
The company has a market cap of $26.17 billion and a P/E ratio of 19.02. The firm’s 50 day moving average price is $82.65 and its 200 day moving average price is $80.85.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. The company had revenue of $31.40 billion for the quarter, compared to analyst estimates of $31.06 billion. During the same period last year, the firm posted $1.00 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. On average, analysts expect that Cardinal Health Inc. will post $5.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be given a $0.4489 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%.
In other Cardinal Health news, SVP Stuart G. Laws sold 9,703 shares of Cardinal Health stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $82.45, for a total value of $800,012.35. Following the sale, the senior vice president now owns 2,718 shares in the company, valued at $224,099.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George S. Barrett sold 129,818 shares of Cardinal Health stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $83.76, for a total value of $10,873,555.68. Following the completion of the sale, the chief executive officer now owns 510,762 shares in the company, valued at approximately $42,781,425.12. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of the stock. Schroder Investment Management Group increased its stake in Cardinal Health by 33.1% in the fourth quarter. Schroder Investment Management Group now owns 260,401 shares of the company’s stock worth $23,246,000 after buying an additional 64,812 shares in the last quarter. US Bancorp DE increased its stake in Cardinal Health by 32.1% in the fourth quarter. US Bancorp DE now owns 367,578 shares of the company’s stock worth $32,814,000 after buying an additional 89,425 shares in the last quarter. Trexquant Investment LP increased its stake in Cardinal Health by 140.4% in the fourth quarter. Trexquant Investment LP now owns 23,800 shares of the company’s stock worth $2,125,000 after buying an additional 13,900 shares in the last quarter. 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 worth $24,931,000 after buying an additional 208,768 shares in the last quarter. Finally, Stephens Inc. AR acquired a new stake in Cardinal Health during the fourth quarter worth approximately $1,578,000.
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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