TD Waterhouse Canada Inc. Buys 47,171 Shares of Cardinal Health, Inc. $CAH

TD Waterhouse Canada Inc. raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 119.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,763 shares of the company’s stock after buying an additional 47,171 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Cardinal Health were worth $19,305,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CAH. Hanson & Doremus Investment Management raised its position in shares of Cardinal Health by 50,662.5% during the third quarter. Hanson & Doremus Investment Management now owns 24,366 shares of the company’s stock worth $5,421,000 after purchasing an additional 24,318 shares during the period. Annex Advisory Services LLC boosted its holdings in Cardinal Health by 1.5% during the third quarter. Annex Advisory Services LLC now owns 2,914 shares of the company’s stock worth $648,000 after purchasing an additional 44 shares during the last quarter. North Capital Inc. acquired a new position in shares of Cardinal Health during the 3rd quarter worth about $388,000. NFSG Corp boosted its position in Cardinal Health by 85,325.0% during the third quarter. NFSG Corp now owns 6,834 shares of the company’s stock valued at $1,449,000 after purchasing an additional 6,826 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings 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 valued at $670,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Buying and Selling

In related news, CEO Stephen Mason sold 35,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the sale, the chief executive officer owned 18,061 shares in the company, valued at $4,269,620.40. This represents a 65.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica Mayer sold 29,436 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 33,076 shares in the company, valued at approximately $7,812,220.44. This trade represents a 47.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 210,271 shares of company stock worth $49,626,657 over the last three months. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the subject of several recent analyst reports. Mizuho raised their target price on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Evercore restated an “outperform” rating and issued a $270.00 price target on shares of Cardinal Health in a research note on Wednesday, August 12th. Weiss Ratings raised Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Bank of America raised their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Morgan Stanley lifted their price target on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Cardinal Health Stock Performance

CAH stock opened at $253.86 on Friday. The company has a market capitalization of $58.78 billion, a P/E ratio of 35.11, a PEG ratio of 1.53 and a beta of 0.50. Cardinal Health, Inc. has a 52-week low of $152.46 and a 52-week high of $258.30. The company has a fifty day moving average price of $234.54 and a 200-day moving average price of $222.22.

Cardinal Health (NYSE:CAH) last announced its 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. The firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 12.55 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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. The ex-dividend date was Thursday, October 1st. This represents a $2.06 annualized dividend and a yield of 0.8%. Cardinal Health’s payout ratio is presently 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.