Traders Sell Shares of Cardinal Health Inc. (CAH) on Strength (CAH)
Investors sold shares of Cardinal Health Inc. (NYSE:CAH) on strength during trading on Monday. $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 companies 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
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Deutsche Bank AG boosted their price objective on shares of Cardinal Health from $83.00 to $89.00 and gave the company a “hold” rating in a research report on Thursday, August 4th. Leerink Swann reiterated a “buy” rating on shares of Cardinal Health in a research report on Wednesday, August 3rd. Citigroup Inc. boosted their price objective on shares of Cardinal Health from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Cardinal Health in a research report on Wednesday, July 6th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cardinal Health presently has a consensus rating of “Buy” and an average price target of $96.45.
The firm has a market capitalization of $25.41 billion and a P/E ratio of 18.47. The firm has a 50 day moving average price of $82.67 and a 200-day moving average price of $80.98.
Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.13 by $0.01. During the same quarter in the prior year, the firm earned $1.00 EPS. The company had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $31.06 billion. The firm’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts anticipate that Cardinal Health Inc. will post $5.62 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be issued 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 dividend 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 sale, the chief executive officer now directly owns 164,803 shares of the company’s stock, valued at approximately $13,775,882.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patricia Morrison sold 43,959 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $82.50, for a total value of $3,626,617.50. Following the sale, the insider now directly owns 99,662 shares of the company’s stock, valued at $8,222,115. The disclosure for this sale can be found here.
Other hedge funds have modified their holdings of the company. American International Group Inc. increased its stake in shares of Cardinal Health by 1.1% in the fourth quarter. American International Group Inc. now owns 147,176 shares of the company’s stock worth $13,139,000 after buying an additional 1,664 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cardinal Health by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 648,883 shares of the company’s stock worth $57,932,000 after buying an additional 36,179 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of 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 during 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.
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