Bank of Nova Scotia Reduces Holdings in Cardinal Health, Inc. $CAH

Bank of Nova Scotia lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 49.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 165,758 shares of the company’s stock after selling 163,493 shares during the period. Bank of Nova Scotia’s holdings in Cardinal Health were worth $27,847,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Cardinal Health by 75.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after buying an additional 75 shares during the period. Vermillion & White Wealth Management Group LLC grew its stake in shares of Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 71 shares during the last quarter. NewSquare Capital LLC raised its holdings in shares of Cardinal Health by 100.0% in the second quarter. NewSquare Capital LLC now owns 214 shares of the company’s stock worth $36,000 after buying an additional 107 shares during the period. Finally, AlphaCore Capital LLC purchased a new stake in shares of Cardinal Health in the second quarter worth approximately $41,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Cardinal Health from $185.00 to $221.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Jefferies Financial Group set a $220.00 target price on shares of Cardinal Health and gave the company a “buy” rating in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research note on Tuesday, November 18th. Leerink Partners upped their price objective on shares of Cardinal Health from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Finally, Robert W. Baird set a $232.00 price target on shares of Cardinal Health in a research report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.00.

Cardinal Health Trading Down 0.2%

Shares of CAH stock opened at $198.48 on Tuesday. Cardinal Health, Inc. has a 12-month low of $114.60 and a 12-month high of $214.93. The business’s fifty day simple moving average is $183.47 and its 200-day simple moving average is $165.54. The company has a market cap of $47.16 billion, a PE ratio of 29.94, a PEG ratio of 1.45 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.33. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.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 previous year, the business earned $1.88 EPS. The firm’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 analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

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

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.