Bank of Montreal Can Sells 84,712 Shares of Cardinal Health, Inc. $CAH

Bank of Montreal Can decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 36.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,780 shares of the company’s stock after selling 84,712 shares during the quarter. Bank of Montreal Can owned approximately 0.06% of Cardinal Health worth $24,995,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Intellectus Partners LLC bought a new stake in Cardinal Health in the 2nd quarter worth about $743,000. iA Global Asset Management Inc. lifted its position in shares of Cardinal Health by 72.8% during the 2nd quarter. iA Global Asset Management Inc. now owns 23,933 shares of the company’s stock worth $4,021,000 after buying an additional 10,083 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Cardinal Health by 2.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 39,771 shares of the company’s stock worth $6,682,000 after buying an additional 941 shares during the last quarter. Plato Investment Management Ltd grew its holdings in shares of Cardinal Health by 61.0% in the second quarter. Plato Investment Management Ltd now owns 8,437 shares of the company’s stock valued at $1,412,000 after acquiring an additional 3,197 shares in the last quarter. Finally, Kesler Norman & Wride LLC purchased a new stake in shares of Cardinal Health during the second quarter valued at approximately $763,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CAH. Leerink Partners upped their price objective on Cardinal Health from $187.00 to $211.00 in a research note on Friday, October 31st. UBS Group boosted their price target on shares of Cardinal Health from $185.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, October 8th. Jefferies Financial Group set a $220.00 price objective on shares of Cardinal Health and gave the stock a “buy” rating in a research report on Monday. Finally, TD Cowen boosted their target price on shares of Cardinal Health from $183.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $203.31.

Cardinal Health Stock Up 0.6%

CAH stock opened at $197.88 on Friday. The firm has a market capitalization of $47.02 billion, a PE ratio of 30.68, a PEG ratio of 1.39 and a beta of 0.72. Cardinal Health, Inc. has a twelve month low of $114.60 and a twelve month high of $200.14. The stock has a 50-day simple moving average of $158.92 and a two-hundred day simple moving average of $156.05.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The firm had revenue of $64.01 billion for the quarter, compared to the consensus estimate of $59.41 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, January 2nd. Cardinal Health’s payout ratio is 30.77%.

Insider Activity

In related news, insider Ola M. Snow sold 28,151 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the completion of the transaction, the insider directly owned 15,431 shares in the company, valued at $2,298,293.14. The trade was a 64.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle D. Greene sold 13,500 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $2,009,070.00. Following the completion of the transaction, the insider owned 14,976 shares in the company, valued at $2,228,728.32. This represents a 47.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 271,676 shares of company stock worth $40,489,525. Company insiders own 0.12% of the company’s stock.

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.