Oddo BHF Asset Management Sas Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Oddo BHF Asset Management Sas acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,496 shares of the company's stock, valued at approximately $497,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC raised its stake in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock worth $633,298,000 after acquiring an additional 42,082 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cardinal Health by 2.3% during the third 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 in the last quarter. Alpha Cubed Investments LLC purchased a new position in Cardinal Health during the 3rd quarter worth $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Cardinal Health during the third quarter worth $1,691,000. Finally, National Wealth Management Group LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $903,000. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Barclays increased their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Morgan Stanley boosted their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upgraded Cardinal Health from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $101.00 to $127.00 in a research note on Friday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $126.75.

Cardinal Health Price Performance

Shares of Cardinal Health stock traded up $0.64 during trading on Friday, hitting $118.10. 1,413,636 shares of the company were exchanged, compared to its average volume of 2,100,808. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.23. The firm's fifty day moving average price is $117.12 and its 200 day moving average price is $108.45. The firm has a market capitalization of $28.58 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same period last year, the business posted $1.73 earnings per share. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.71%. Cardinal Health's dividend payout ratio (DPR) is presently 39.30%.

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.