Cardinal Health’s $310M Trade Ranks 320th as 21.4M Share Sale Tied to Liquidity Needs

On August 19, 2025, Cardinal Health (CAH) traded with a volume of $0.31 billion, ranking 320th in market activity. The stock closed down 0.47%, reflecting mixed investor sentiment amid corporate actions.

Cardinal Health filed a Form 144 with the SEC to notify the proposed sale of 143,606 shares via Merrill on the NYSE, valued at $21.4 million. The shares stem from recently vested performance and restricted stock awards dated August 15, 2025. The filing disclosed no prior sales by the seller in the past three months and confirmed the seller is unaware of undisclosed material adverse information.

Analysts note the sale aligns with routine liquidity needs tied to equity compensation cycles rather than urgent disposal. The transaction, representing 0.06% of outstanding shares, is unlikely to trigger significant market impact. However, the proximity of the sale date (August 19) to the vesting date (August 15) raises questions about timing but does not suggest governance concerns. Compliance with Rule 144 is evident, given the absence of prior sales and the inclusion of standard disclosures.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day generated a total profit of $2,940 from December 2022 to August 2025, with a maximum drawdown of $-1,960. This reflects a volatile but ultimately positive performance, with a peak-to-trough decline of 19.6% during the period.