Cardinal Health, Inc. $CAH Stock: Hanson & Doremus Investment Management Raises Stake

Hanson & Doremus Investment Management increased its position in Cardinal Health, Inc. (NYSE:CAH) by 50,662.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,366 shares of the company’s stock after purchasing an additional 24,318 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Cardinal Health were worth $5,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Annex Advisory Services LLC boosted its stake in shares of Cardinal Health by 1.5% during the third quarter. Annex Advisory Services LLC now owns 2,914 shares of the company’s stock valued at $648,000 after purchasing an additional 44 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Cardinal Health during the third quarter valued at about $388,000. NFSG Corp boosted its stake in Cardinal Health by 85,325.0% in the third quarter. NFSG Corp now owns 6,834 shares of the company’s stock valued at $1,449,000 after acquiring an additional 6,826 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Cardinal Health by 3.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,012 shares of the company’s stock worth $670,000 after purchasing an additional 98 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Cardinal Health by 1,175.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 154,192 shares of the company’s stock worth $34,308,000 after buying an additional 142,102 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday. Leerink Partners set a $292.00 target price on shares of Cardinal Health in a research note on Tuesday, August 11th. Royal Bank Of Canada began coverage on Cardinal Health in a research report on Wednesday, August 19th. They set an “outperform” rating and a $276.00 target price on the stock. Finally, Mizuho boosted their target price on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Insider Buying and Selling

In other news, CEO Deborah Weitzman sold 7,354 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the sale, the chief executive officer directly owned 77,901 shares in the company, valued at approximately $18,341,790.45. This trade represents a 8.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason M. Hollar sold 44,529 shares of Cardinal Health stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $236.18, for a total value of $10,516,859.22. Following the sale, the chief executive officer directly owned 190,603 shares of the company’s stock, valued at $45,016,616.54. This trade represents a 18.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 210,271 shares of company stock worth $49,626,657 over the last ninety days. Company insiders own 0.12% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock opened at $253.86 on Friday. The company’s 50 day simple moving average is $234.54 and its 200-day simple moving average is $222.22. Cardinal Health, Inc. has a 1 year low of $152.46 and a 1 year high of $258.30. The company has a market capitalization of $58.78 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.50.

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

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were issued a $0.5158 dividend. The ex-dividend date was Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.8%. Cardinal Health’s dividend payout ratio (DPR) is 28.49%.

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.