Bank of Montreal Can Cuts Holdings in Cardinal Health, Inc. $CAH

Bank of Montreal Can lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 36.3% during the 2nd quarter, according to the company in its most recent 13F filing with the 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’s holdings in Cardinal Health were worth $24,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. MassMutual Private Wealth & Trust FSB increased its stake in Cardinal Health by 3.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,767 shares of the company’s stock valued at $297,000 after acquiring an additional 62 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Cardinal Health by 0.4% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,805 shares of the company’s stock worth $2,991,000 after purchasing an additional 69 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Cardinal Health by 3.2% during the 2nd quarter. Perigon Wealth Management LLC now owns 2,314 shares of the company’s stock valued at $389,000 after purchasing an additional 72 shares during the last quarter. Community Bank & Trust Waco Texas raised its holdings in shares of Cardinal Health by 1.3% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 5,598 shares of the company’s stock valued at $940,000 after buying an additional 74 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in Cardinal Health by 75.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock worth $29,000 after buying an additional 75 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent research reports. Argus set a $189.00 price target on shares of Cardinal Health in a research report on Friday, August 22nd. UBS Group increased their target price on shares of Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a report on Friday, October 31st. Evercore ISI lifted their target price on shares of Cardinal Health from $190.00 to $220.00 and gave the stock an “outperform” rating in a research 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. Finally, Wells Fargo & Company raised their price objective on Cardinal Health from $185.00 to $221.00 and gave the company an “overweight” rating in a research note on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.31.

Cardinal Health Stock Up 0.6%

Shares of CAH opened at $197.88 on Friday. The stock has a market capitalization of $47.02 billion, a P/E 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 firm has a fifty day simple moving average of $158.92 and a two-hundred day simple moving average of $156.05.

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

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd will be given a $0.5107 dividend. 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 dividend payout ratio (DPR) is currently 30.77%.

Insider Activity

In related news, insider Michelle D. Greene sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen M. Mason sold 41,575 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $6,187,191.50. Following the completion of the sale, the chief executive officer directly owned 26,085 shares of the company’s stock, valued at $3,881,969.70. The trade was a 61.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 271,676 shares of company stock valued at $40,489,525. 0.12% of the stock is owned by insiders.

About Cardinal Health

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.