Cardinal Health, Inc. $CAH Shares Bought by Hanson & Doremus Investment Management

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Cardinal Health in the 2nd quarter valued at $6,293,115,000. Wellington Management Group LLP lifted its holdings in shares of Cardinal Health by 247.5% during the second quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after buying an additional 10,584,119 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Cardinal Health during the 2nd quarter worth approximately $689,066,000. Legal & General Group Plc bought a new position in shares of Cardinal Health during the second quarter worth approximately $438,870,000. Finally, Pacer Advisors Inc. increased its stake in Cardinal Health by 14.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,565,131 shares of the company’s stock worth $330,728,000 after acquiring an additional 200,021 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $253.86 on Friday. The firm has a 50-day simple moving average of $234.54 and a two-hundred day simple moving average of $222.22. The firm has a market cap of $58.78 billion, a P/E ratio of 35.11, a P/E/G ratio of 1.53 and a beta of 0.50. Cardinal Health, Inc. has a fifty-two week low of $152.46 and a fifty-two week high of $258.30.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $2.08 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The company 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. 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 is currently 28.49%.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 29,436 shares of Cardinal Health stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.19, for a total value of $6,952,488.84. Following the sale, the insider directly owned 33,076 shares in the company, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michelle D. Greene sold 11,650 shares of the firm’s 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 transaction, the insider owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 210,271 shares of company stock valued at $49,626,657. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company boosted their target price on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Citigroup upped their price objective on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Barclays upped their price objective on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Leerink Partners set a $292.00 price target on Cardinal Health in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada started coverage on shares of Cardinal Health in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $276.00 target price on the stock. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $267.50.

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.