Oddo BHF Asset Management Sas Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Oddo BHF Asset Management Sas acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,496 shares of the company’s stock, valued at approximately $497,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after acquiring an additional 33,388 shares during the period. Geode Capital Management LLC lifted its holdings in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares during the period. Alpha Cubed Investments LLC acquired a new stake in Cardinal Health in the third quarter worth about $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Cardinal Health in the 3rd quarter valued at about $1,691,000. Finally, National Wealth Management Group LLC acquired a new position in Cardinal Health during the 3rd quarter valued at about $903,000. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CAH shares. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $101.00 to $127.00 in a research note on Friday. Morgan Stanley upped their target price on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $126.75.

Cardinal Health Trading Up 0.5 %

Shares of CAH opened at $118.10 on Friday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.23. The stock has a market capitalization of $28.58 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.47 and a beta of 0.61. The business’s 50-day moving average price is $117.12 and its 200 day moving average price is $108.45.

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

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.71%. Cardinal Health’s dividend payout ratio (DPR) is presently 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.