Cardinal Health, Inc. $CAH Stock: TD Waterhouse Canada Inc. Raises Holdings

Key Points

• TD Waterhouse Canada more than doubled its Cardinal Health stake by 119.1% in the third quarter, reaching 86,763 shares valued at approximately $19.3 million. Institutional investors collectively own 87.17% of the company.
• Analysts maintain a favorable outlook, with 16 Buy ratings and three Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $267.50.
• Cardinal Health reported quarterly EPS of $2.91, exceeding the $2.42 consensus estimate, while revenue rose 5.8% year over year. However, company insiders sold more than 210,000 shares worth about $49.6 million over the past 90 days.

TD Waterhouse Canada Inc. increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 119.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,763 shares of the company's stock after buying an additional 47,171 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Cardinal Health were worth $19,305,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. LWM Advisors Inc. increased its position in Cardinal Health by 4.4% in the 2nd quarter. LWM Advisors Inc. now owns 1,028 shares of the company's stock valued at $244,000 after acquiring an additional 43 shares during the period. Parkside Financial Bank & Trust raised its position in Cardinal Health by 2.5% in the second quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company's stock worth $426,000 after acquiring an additional 43 shares in the last quarter. Annex Advisory Services LLC raised its holdings in shares of Cardinal Health by 1.5% in the 3rd quarter. Annex Advisory Services LLC now owns 2,914 shares of the company's stock worth $648,000 after purchasing an additional 44 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in shares of Cardinal Health by 1.2% in the first quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company's stock valued at $896,000 after buying an additional 49 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of Cardinal Health by 2.6% during the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company's stock worth $423,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on CAH. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $215.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, August 13th. UBS Group lifted their price target on Cardinal Health from $280.00 to $295.00 and gave the company a "buy" rating in a report on Friday. TD Cowen upped their price objective on shares of Cardinal Health from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Morgan Stanley upped their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $267.50.

Cardinal Health Stock Performance

Shares of CAH stock opened at $253.86 on Friday. Cardinal Health, Inc. has a 52-week low of $152.46 and a 52-week high of $258.30. The stock has a market cap of $58.78 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 1.53 and a beta of 0.50. The firm has a fifty day moving average of $234.54 and a 200-day moving average of $222.22.

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

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were issued a dividend of $0.5158 per share. This represents a $2.06 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 1st. Cardinal Health's dividend payout ratio (DPR) is currently 28.49%.

Insider Buying and Selling

In related news, CEO Jason M. Hollar sold 80,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.74, for a total transaction of $18,859,200.00. Following the transaction, the chief executive officer owned 235,132 shares in the company, valued at $55,430,017.68. This represents a 25.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Deborah Weitzman sold 7,354 shares of the company's stock in a transaction that occurred on 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 $18,341,790.45. The trade was a 8.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 210,271 shares of company stock valued at $49,626,657 in the last ninety days. 0.12% of the stock is owned by corporate insiders.

About Cardinal Health

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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