Canandaigua National Bank & Trust Co. Sells 100 Shares of Cardinal Health, Inc. (NYSE:CAH)

Canandaigua National Bank & Trust Co. lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,439 shares of the company’s stock after selling 100 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Cardinal Health were worth $407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CAH. Eastern Bank bought a new position in shares of Cardinal Health in the 3rd quarter worth $25,000. Frazier Financial Advisors LLC raised its holdings in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health during the second quarter valued at about $29,000. Hara Capital LLC bought a new stake in shares of Cardinal Health in the 3rd quarter valued at about $31,000. Finally, AM Squared Ltd purchased a new position in shares of Cardinal Health in the 3rd quarter worth approximately $33,000. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CAH. Barclays increased their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Argus increased their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $145.00 in a research note on Monday. Finally, UBS Group raised their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.85.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $119.48 on Tuesday. The business’s 50 day moving average price is $118.98 and its 200-day moving average price is $110.56. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.23. The firm has a market capitalization of $28.92 billion, a PE ratio of 23.25, a P/E/G ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 earnings per share. As a group, analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Cardinal Health 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.