Cardinal Health, Inc. $CAH Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 49.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,758 shares of the company’s stock after selling 163,493 shares during the quarter. Bank of Nova Scotia owned about 0.07% of Cardinal Health worth $27,847,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC purchased a new position in shares of Cardinal Health during the second quarter worth about $1,911,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Cardinal Health in the 2nd quarter valued at about $79,000. Marshall Wace LLP boosted its position in shares of Cardinal Health by 19.1% in the 2nd quarter. Marshall Wace LLP now owns 1,930,967 shares of the company’s stock valued at $324,402,000 after purchasing an additional 309,335 shares during the period. KLP Kapitalforvaltning AS increased its position in Cardinal Health by 4.0% during the second quarter. KLP Kapitalforvaltning AS now owns 114,198 shares of the company’s stock worth $19,185,000 after buying an additional 4,400 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Cardinal Health by 92.5% in the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock valued at $282,063,000 after buying an additional 807,063 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.2%

Shares of NYSE:CAH opened at $198.48 on Tuesday. Cardinal Health, Inc. has a 52 week low of $114.60 and a 52 week high of $214.93. The company has a 50-day moving average price of $183.47 and a 200 day moving average price of $165.54. The company has a market cap of $47.16 billion, a P/E ratio of 29.94, a PEG ratio of 1.45 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. The business had revenue of $64.01 billion during the quarter, compared to the consensus estimate of $59.41 billion. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 EPS. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. Analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a $0.5107 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. Cardinal Health’s dividend payout ratio (DPR) is 30.77%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAH. Argus raised their target price on shares of Cardinal Health from $189.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Barclays initiated coverage on shares of Cardinal Health in a research report on Monday. They set an “overweight” rating and a $243.00 price objective on the stock. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Mizuho increased their target price on shares of Cardinal Health from $170.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a report on Tuesday, November 18th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.00.

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.