M&T Bank Corp Decreases Stock Position in Cardinal Health, Inc. $CAH

Key Points

• M&T Bank cut its stake in Cardinal Health by 80.2% in Q4, selling 18,319 shares and leaving a 4,518‑share position worth about $928,000.
• Cardinal Health beat Q3 non‑GAAP EPS ($3.17 vs. ~$2.79), raised FY‑2026 non‑GAAP guidance to $10.70–$10.80, but missed revenue estimates (~$60.9B vs. ~$62.1B) and took a $184M pre‑tax goodwill impairment that weighed on GAAP results while completing an additional $250M buyback (FY total $1.0B).
• Analysts are broadly positive (MarketBeat consensus: Moderate Buy, $244.33 target) and institutional investors own about 87.17% of the stock, while the share price trades near $193 with a market cap around $45.5B.

M&T Bank Corp lowered its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 80.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,518 shares of the company's stock after selling 18,319 shares during the quarter. M&T Bank Corp's holdings in Cardinal Health were worth $928,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CAH. SJS Investment Consulting Inc. increased its holdings in shares of Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company's stock worth $25,000 after buying an additional 150 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth about $25,000. Jones Financial Companies Lllp increased its holdings in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after buying an additional 14,034 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Cardinal Health in the 3rd quarter worth about $31,000. Finally, Turning Point Benefit Group Inc. bought a new stake in shares of Cardinal Health in the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of CAH stock opened at $193.21 on Friday. The company has a market capitalization of $45.47 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.31 and a beta of 0.64. The company's 50-day simple moving average is $213.73 and its two-hundred day simple moving average is $205.46. Cardinal Health, Inc. has a one year low of $136.71 and a one year high of $233.60.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping analysts' consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 EPS. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. On average, research analysts expect that Cardinal Health, Inc. will post 10.32 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a dividend of $0.5107 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.1%. Cardinal Health's payout ratio is 29.35%.

Cardinal Health News Roundup

Here are the key news stories impacting Cardinal Health this week:

• Positive Sentiment: Raised and narrowed FY‑2026 non‑GAAP EPS guidance to $10.70–$10.80 (above Street consensus), signaling management confidence in specialty pharma demand. Cardinal Health lifts annual profit forecast on strong demand for specialty drugs — Reuters
• Positive Sentiment: Q3 non‑GAAP EPS beat — $3.17 vs. ~$2.80 consensus — and non‑GAAP operating earnings rose ~18%, showing margin improvement on pharma and specialty growth. Cardinal Health (CAH) Q3 Earnings Beat Estimates — Zacks
• Positive Sentiment: Returned capital and reduced leverage: completed an additional $250M buyback this quarter (bringing FY total to $1.0B), which supports EPS and buyback-driven shareholder returns. Cardinal Health Reports Third Quarter Fiscal Year 2026 Results and Raises Outlook — PR Newswire
• Neutral Sentiment: Earnings materials and call transcript are available for walk‑throughs of segment dynamics (pharma vs. Med/surg, specialty drug margins) for investors who want detail. Cardinal Health, Inc. (CAH) Q3 2026 Earnings Call Transcript — Seeking Alpha
• Neutral Sentiment: Analyst activity (e.g., new coverage/positive notes) and media pieces highlight differing views — some push the stock higher on guidance; others focus on the revenue miss. Cardinal Health Rises. A Guidance Hike Powers the Stock Past These Weak Points. — Barron's
• Negative Sentiment: Revenue missed expectations: Q3 sales ~$60.9B vs. ~$62.2B est., raising concerns about volume/price trends and muting the EPS beat. Cardinal Health is getting pummeled on mixed results — here's our plan for stock — CNBC
• Negative Sentiment: GAAP results were weaker: GAAP operating earnings and EPS fell (GAAP EPS down ~20%) after a $184M pre‑tax goodwill impairment in Navista & ION — a one‑time but visible hit to GAAP profitability. Cardinal Health Reports Third Quarter Fiscal Year 2026 Results and Raises Outlook — PR Newswire
• Negative Sentiment: Market reaction: despite the EPS beat and guidance raise, investors sold on mixed signals (top‑line miss + impairment), producing heavier volume and downward pressure. Why Is Cardinal Health Stock Sinking Thursday? — Benzinga

Analyst Ratings Changes

CAH has been the topic of a number of research reports. Robert W. Baird set a $252.00 target price on shares of Cardinal Health in a report on Friday, February 6th. Barclays boosted their target price on shares of Cardinal Health from $243.00 to $258.00 and gave the stock an "overweight" rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $209.00 to $243.00 and gave the stock a "neutral" rating in a report on Tuesday, February 10th. TD Cowen boosted their target price on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Finally, Jefferies Financial Group boosted their target price on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $244.33.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

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