Cardinal Health Rises After Extending CVS Distribution Deal and Reaffirming FY2027 Outlook

Cardinal Health (CAH) is up 3.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely catalyst is Cardinal Health’s announcement that it signed a binding letter of intent to extend its pharmaceutical distribution agreements with CVS Health through June 30, 2032. Investors also appeared to respond positively to management reaffirming fiscal 2027 non-GAAP EPS guidance of $12.40 to $12.60 and its long-term non-GAAP EPS growth target of 12% to 14%.

Details:

Cardinal Health disclosed on October 1, 2026 that it plans to continue its existing distribution relationship with CVS Health through mid-2032, preserving a major customer relationship.

The company said the extension reflects the continuation of its current scope of distribution services, which reduces uncertainty around a key revenue stream.

In the same announcement, Cardinal Health reaffirmed fiscal 2027 earnings guidance rather than lowering expectations, which can reinforce confidence in near-term profit outlook.

Cardinal Health’s recent annual filing identified CVS Health as its only customer representing at least 10% of revenue or gross trade receivables in fiscal 2026, underscoring why this renewal matters to the stock.

Sources:

SEC, Cardinal Health, Cardinal Health

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CAH Insider Trading Activity

$CAH insiders have traded $CAH stock on the open market 31 times in the past 6 months. Of those trades, 0 have been purchases and 31 have been sales.

Here’s a breakdown of recent trading of $CAH stock by insiders over the last 6 months:

JASON M. HOLLAR (Chief Executive Officer) has made 0 purchases and 10 sales selling 124,529 shares for an estimated $29,375,515.
AARON E ALT (Chief Financial Officer) has made 0 purchases and 4 sales selling 42,000 shares for an estimated $9,926,140.
STEPHEN M MASON (CEO, GMPD Segment) has made 0 purchases and 4 sales selling 35,000 shares for an estimated $8,274,117.
JESSICA L MAYER (Chief Legal/Compliance Officer) has made 0 purchases and 4 sales selling 29,436 shares for an estimated $6,952,485.
MICHELLE D. GREENE (Chief Information Officer) has made 0 purchases and 4 sales selling 11,650 shares for an estimated $2,746,186.
DEBORAH WEITZMAN (CEO, PSS Segment) has made 0 purchases and 3 sales selling 7,354 shares for an estimated $1,731,523.
MARY C. SCHERER (Chief Accounting Officer) has made 0 purchases and 2 sales selling 2,302 shares for an estimated $546,472.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$CAH Hedge Fund Activity

We have seen 666 institutional investors add shares of $CAH stock to their portfolio, and 638 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

WELLINGTON MANAGEMENT GROUP LLP added 10,584,119 shares (+247.5%) to their portfolio in Q2 2026, for an estimated $2,514,363,309
JPMORGAN CHASE & CO added 2,668,749 shares (+inf%) to their portfolio in Q2 2026, for an estimated $633,988,012
FMR LLC removed 2,176,992 shares (-51.3%) from their portfolio in Q2 2026, for an estimated $517,166,219
BLACKROCK, INC. removed 2,004,222 shares (-7.0%) from their portfolio in Q2 2026, for an estimated $476,122,978
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 1,554,017 shares (+inf%) to their portfolio in Q2 2026, for an estimated $369,172,278
INVESCO LTD. added 1,230,335 shares (+35.0%) to their portfolio in Q2 2026, for an estimated $292,278,382
PACER ADVISORS, INC. added 1,225,154 shares (+inf%) to their portfolio in Q2 2026, for an estimated $291,047,584

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$CAH Government Contracts

We have seen $259,006,737 of award payments to $CAH over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

8511684196!OTHER MEDICAL: $1,300,000

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$CAH Analyst Ratings

Wall Street analysts have issued reports on $CAH in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

William Blair issued a "Outperform" rating on 04/28/2026

To track analyst ratings and price targets for $CAH, check out Quiver Quantitative's $CAH forecast page.

$CAH Price Targets

Multiple analysts have issued price targets for $CAH recently. We have seen 6 analysts offer price targets for $CAH in the last 6 months, with a median target of $245.0.

Here are some recent targets:

Charles Rhyee from TD Cowen set a target price of $275.0 on 07/09/2026
Allen Lutz from B of A Securities set a target price of $260.0 on 07/02/2026
Lisa Gill from JP Morgan set a target price of $215.0 on 05/04/2026
Stephen Baxter from Wells Fargo set a target price of $245.0 on 05/01/2026
Daniel Grosslight from Citigroup set a target price of $245.0 on 05/01/2026
Elizabeth Anderson from Evercore ISI Group set a target price of $240.0 on 04/08/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.