Oddo BHF Asset Management Sas Acquires 2,960 Shares of Cardinal Health, Inc. $CAH

Oddo BHF Asset Management Sas lifted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,449 shares of the company’s stock after purchasing an additional 2,960 shares during the period. Oddo BHF Asset Management Sas’ holdings in Cardinal Health were worth $17,000,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CAH. Arkadios Wealth Advisors increased its position in Cardinal Health by 0.8% during the first quarter. Arkadios Wealth Advisors now owns 15,002 shares of the company’s stock worth $3,170,000 after buying an additional 122 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Cardinal Health by 192.5% during the first quarter. Sunbelt Securities Inc. now owns 2,887 shares of the company’s stock valued at $610,000 after buying an additional 1,900 shares in the last quarter. Amundi lifted its position in shares of Cardinal Health by 24.3% in the first quarter. Amundi now owns 915,103 shares of the company’s stock worth $193,370,000 after buying an additional 178,663 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Cardinal Health by 5.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,001 shares of the company’s stock worth $423,000 after acquiring an additional 109 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Cardinal Health by 30.3% during the 1st quarter. Royal Bank of Canada now owns 952,686 shares of the company’s stock worth $201,312,000 after acquiring an additional 221,376 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAH. JPMorgan Chase & Co. cut their price objective on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. William Blair assumed coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Fifteen equities research 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 stock presently has an average rating of “Moderate Buy” and an average target price of $251.73.

Cardinal Health Stock Down 1.3%

Shares of NYSE:CAH opened at $229.37 on Thursday. The business has a 50 day moving average price of $221.82 and a 200 day moving average price of $215.01. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $243.21. The company has a market cap of $53.72 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 1.14 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.79 by $0.38. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The company had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. During the same period in the previous year, the business posted $2.35 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts anticipate that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.5158 dividend. The ex-dividend date was Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is 31.50%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.