3,674 Shares in Cardinal Health, Inc. $CAH Purchased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,674 shares of the company’s stock, valued at approximately $873,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS raised its position in Cardinal Health by 100.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock valued at $3,733,000 after buying an additional 9,120 shares during the period. Abacus FCF Advisors LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $7,182,000. Byrne Financial Freedom LLC purchased a new position in Cardinal Health during the 4th quarter valued at about $1,574,000. Belleair Asset Management LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at about $1,100,000. Finally, Axecap Investments LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at about $2,371,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 2.5%

Shares of NYSE:CAH opened at $239.32 on Thursday. The stock has a market capitalization of $56.05 billion, a PE ratio of 36.59, a P/E/G ratio of 1.14 and a beta of 0.49. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $243.21. The firm has a fifty day moving average price of $225.07 and a 200 day moving average price of $215.91.

Analyst Ratings Changes

CAH has been the subject of several research reports. Robert W. Baird set a $248.00 price target on shares of Cardinal Health in a report on Friday, May 1st. Zacks Research downgraded shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. decreased their target price on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. TD Cowen boosted their price target on shares of Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Evercore dropped their price target on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.