Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 71.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,539 shares of the company’s stock after selling 8,947 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Cardinal Health were worth $391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health during the second quarter worth about $27,000. Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares during the period. YHB Investment Advisors Inc. acquired a new position in Cardinal Health in the first quarter valued at approximately $32,000. LRI Investments LLC acquired a new position in Cardinal Health in the first quarter valued at approximately $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Cardinal Health in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH traded up $1.63 during trading hours on Friday, hitting $111.98. 1,490,687 shares of the stock were exchanged, compared to its average volume of 2,109,496. Cardinal Health, Inc. has a 12-month low of $89.00 and a 12-month high of $116.05. The company has a market cap of $27.27 billion, a price-to-earnings ratio of 49.76, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60. The stock’s 50-day moving average price is $108.23 and its two-hundred day moving average price is $103.95.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.74 by $0.10. The firm had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 earnings per share. On average, research analysts expect that Cardinal Health, Inc. will post 7.62 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.506 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is 89.78%.

Insider Activity

In other news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the transaction, the chief financial officer now owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica L. Mayer sold 17,896 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock valued at $12,379,980 in the last quarter. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Robert W. Baird boosted their price target on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Wells Fargo & Company boosted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cardinal Health from $115.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, Citigroup cut their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.36.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.