Bank of Nova Scotia Raises Position in Cardinal Health, Inc. (NYSE:CAH)

Bank of Nova Scotia increased its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1,142.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 545,313 shares of the company's stock after buying an additional 501,421 shares during the period. Bank of Nova Scotia owned 0.23% of Cardinal Health worth $64,494,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Stifel Financial Corp raised its holdings in Cardinal Health by 5.2% in the 3rd quarter. Stifel Financial Corp now owns 156,655 shares of the company's stock worth $17,313,000 after acquiring an additional 7,716 shares during the period. National Bank of Canada FI grew its holdings in Cardinal Health by 59.6% in the 3rd quarter. National Bank of Canada FI now owns 157,183 shares of the company's stock valued at $17,372,000 after buying an additional 58,716 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Cardinal Health by 15.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 15,203 shares of the company's stock worth $1,680,000 after buying an additional 2,015 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Cardinal Health by 7.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 490,463 shares of the company's stock worth $54,206,000 after acquiring an additional 35,921 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Cardinal Health by 8.2% in the 3rd quarter. Barclays PLC now owns 707,404 shares of the company's stock valued at $78,183,000 after purchasing an additional 53,851 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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Cardinal Health Stock Up 1.3 %

CAH traded up $1.65 during midday trading on Monday, hitting $133.42. The company had a trading volume of 289,724 shares, compared to its average volume of 2,174,757. The company has a market capitalization of $32.23 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.49 and a beta of 0.61. The stock's 50 day moving average price is $129.33 and its 200 day moving average price is $122.48. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $139.50.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's dividend payout ratio is currently 37.69%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CAH shares. Mizuho raised their price objective on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price on the stock in a research note on Tuesday, January 7th. TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and lifted their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their price target on Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.86.

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.