Canandaigua National Bank & Trust Co. Makes New Investment in Cardinal Health, Inc. $CAH

Canandaigua National Bank & Trust Co. acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,674 shares of the company’s stock, valued at approximately $873,000.

A number of other large investors have also modified their holdings of CAH. Integrated Wealth Concepts LLC raised its position in Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after purchasing an additional 280 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $1,935,000. Cerity Partners LLC raised its holdings in shares of Cardinal Health by 17.0% in the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company’s stock worth $6,792,000 after buying an additional 5,880 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its position in shares of Cardinal Health by 34.4% during the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company’s stock worth $1,736,000 after buying an additional 2,646 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Up 2.5%

Shares of NYSE CAH opened at $239.32 on Thursday. The firm’s 50-day simple moving average is $225.07 and its 200 day simple moving average is $215.91. The company has a market cap of $56.05 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.49. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $243.21.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CAH shares. Mizuho boosted their price target on Cardinal Health from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Morgan Stanley boosted their target price on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. UBS Group upped their target price on shares of Cardinal Health from $260.00 to $274.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Evercore dropped their target price on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company cut their price target on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.73.

About Cardinal Health

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.