Updated
Updated · Yahoo Finance · Aug 23
Cardinal Health CIO Sells 11,650 Shares for $2.7 Million, Retaining 10,330
Updated
Updated · Yahoo Finance · Aug 23

Cardinal Health CIO Sells 11,650 Shares for $2.7 Million, Retaining 10,330

1 articles · Updated · Yahoo Finance · Aug 23

Summary

  • $2.7 million of Cardinal Health stock was sold by CIO Michelle D. Greene on Aug. 18, according to an SEC Form 4, reducing her directly held stake to 10,330 shares.
  • 11,650 shares were executed in multiple trades between $234.07 and $237.32 each, producing a weighted average sale price of $235.72.
  • 10,330 remaining shares were worth about $2.43 million at the Aug. 18 close, leaving Greene with a still-material direct equity position.
  • Cardinal Health had a $55.0 billion market value as of Aug. 19 and generated $254.2 billion in trailing-12-month revenue across its Pharmaceutical and Medical divisions.

Insights

With Cardinal Health projecting massive growth, why are the CIO and top executives quietly cashing out millions in stock?
How can a company justify a billion-dollar stock buyback while its own leadership simultaneously unloads shares?