Oddo BHF Asset Management Sas Has $17 Million Holdings in Cardinal Health, Inc. $CAH

Oddo BHF Asset Management Sas raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,449 shares of the company’s stock after buying an additional 2,960 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Cardinal Health were worth $17,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arkadios Wealth Advisors raised its holdings in shares of Cardinal Health by 0.8% during the first quarter. Arkadios Wealth Advisors now owns 15,002 shares of the company’s stock valued at $3,170,000 after acquiring an additional 122 shares during the period. Sunbelt Securities Inc. boosted its stake in Cardinal Health by 192.5% in the 1st quarter. Sunbelt Securities Inc. now owns 2,887 shares of the company’s stock worth $610,000 after purchasing an additional 1,900 shares during the period. Amundi boosted its stake in Cardinal Health by 24.3% in the 1st quarter. Amundi now owns 915,103 shares of the company’s stock worth $193,370,000 after purchasing an additional 178,663 shares during the period. EverSource Wealth Advisors LLC grew its position in 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 purchasing an additional 109 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Cardinal Health by 30.3% during the 1st quarter. Royal Bank of Canada now owns 952,686 shares of the company’s stock valued at $201,312,000 after purchasing an additional 221,376 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAH. William Blair began coverage on Cardinal Health in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. TD Cowen lifted their price target on Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Zacks Research lowered Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Citigroup raised their price objective on Cardinal Health from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company dropped their target price on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $251.73.

Cardinal Health Trading Down 1.3%

Shares of NYSE:CAH opened at $229.37 on Thursday. The firm has a market cap of $53.72 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 1.14 and a beta of 0.49. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $243.21. The business has a fifty day simple moving average of $221.82 and a 200 day simple moving average of $215.01.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

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

Cardinal Health Company Profile

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.