13,852 Cardinal Health, Inc. $CAH Shares Acquired by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust increased its Cardinal Health stake by 377% in the third quarter, acquiring 13,852 shares and bringing its total holdings to 17,526 shares valued at approximately $3.9 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly positive, with 16 Buy ratings and three Hold ratings producing a “Moderate Buy” consensus and an average price target of $266.56. Recent targets range from $265 to $280.
• Cardinal Health exceeded quarterly earnings expectations, reporting $2.91 EPS versus the $2.42 consensus, while revenue rose 5.8% year over year to $63.67 billion. The company also declared a $0.5158 quarterly dividend, though insiders sold more than $49.6 million of stock over the past three months.

Canandaigua National Bank & Trust Co. raised its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 377.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,526 shares of the company's stock after buying an additional 13,852 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Cardinal Health were worth $3,900,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Investors Research Corp acquired a new stake in Cardinal Health during the 2nd quarter valued at approximately $29,000. Allied Private Wealth LLC acquired a new stake in shares of Cardinal Health during the second quarter worth $30,000. NBH Bank acquired a new stake in shares of Cardinal Health during the second quarter worth $31,000. Indiana Trust & Investment Management Co bought a new position in Cardinal Health during the first quarter worth $29,000. Finally, Elevation Wealth Partners LLC lifted its holdings in Cardinal Health by 282.5% in the second quarter. Elevation Wealth Partners LLC now owns 153 shares of the company's stock valued at $36,000 after buying an additional 113 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on Cardinal Health from $251.00 to $274.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Evercore restated an "outperform" rating and set a $270.00 price target on shares of Cardinal Health in a report on Wednesday, August 12th. Morgan Stanley raised their price objective on shares of Cardinal Health from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Zacks Research downgraded shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Finally, Citigroup lifted their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $266.56.

Cardinal Health Trading Down 0.7%

Shares of CAH traded down $1.74 during trading hours on Wednesday, reaching $231.70. The stock had a trading volume of 1,096,754 shares, compared to its average volume of 1,976,181. The firm has a 50-day simple moving average of $233.11 and a 200 day simple moving average of $220.38. Cardinal Health, Inc. has a 12 month low of $151.87 and a 12 month high of $258.30. The company has a market capitalization of $53.65 billion, a price-to-earnings ratio of 32.05, a P/E/G ratio of 1.40 and a beta of 0.50.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.49. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health's dividend payout ratio is 28.49%.

Insiders Place Their Bets

In other news, insider Michelle D. Greene sold 11,650 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the sale, the insider owned 10,330 shares in the company, valued at $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Deborah Weitzman sold 7,354 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.45, for a total transaction of $1,731,499.30. Following the transaction, the chief executive officer owned 77,901 shares in the company, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 210,271 shares of company stock worth $49,626,657 in the last three months. 0.12% of the stock is owned by corporate insiders.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports pharmacies, hospitals, ambulatory surgery centers, physician offices and other healthcare providers. Its operations are primarily organized into Pharmaceutical and Medical segments.

The Pharmaceutical segment distributes branded, generic, specialty and over-the-counter medicines, as well as consumer health products. It also provides services related to specialty pharmaceuticals, pharmaceutical sourcing, nuclear and precision health products, and data and analytics for pharmaceutical manufacturers and healthcare organizations.

The Medical segment distributes medical and surgical products, including gloves, apparel, incontinence supplies, laboratory products and other essential items.

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