BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Stake in Cardinal Health, Inc. (NYSE:CAH)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 44.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 566,626 shares of the company’s stock after purchasing an additional 173,276 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.23% of Cardinal Health worth $56,447,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Cardinal Health during the 4th quarter worth approximately $37,393,000. Truist Financial Corp grew its holdings in Cardinal Health by 37.0% in the fourth quarter. Truist Financial Corp now owns 101,276 shares of the company’s stock valued at $10,209,000 after purchasing an additional 27,367 shares during the period. Mather Group LLC. raised its holdings in Cardinal Health by 2.5% in the fourth quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock valued at $673,000 after buying an additional 164 shares during the period. Kestra Private Wealth Services LLC grew its position in Cardinal Health by 44.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,961 shares of the company’s stock valued at $1,206,000 after acquiring an additional 3,660 shares in the last quarter. Finally, Cozad Asset Management Inc. grew its position in shares of Cardinal Health by 4.6% during the fourth quarter. Cozad Asset Management Inc. now owns 26,642 shares of the company’s stock worth $2,686,000 after buying an additional 1,164 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Insider Transactions at Cardinal Health

In other news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now owns 75,971 shares of the company’s stock, valued at $8,310,467.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jason M. Hollar sold 46,455 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently owned by corporate insiders.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $112.72 on Friday. The company has a market capitalization of $27.45 billion, a price-to-earnings ratio of 50.10, a P/E/G ratio of 1.14 and a beta of 0.61. The firm’s 50 day simple moving average is $101.14 and its 200 day simple moving average is $103.61. Cardinal Health, Inc. has a fifty-two week low of $85.82 and a fifty-two week high of $116.04.

Cardinal Health (NYSE:CAH) last posted its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same period in the prior year, the business earned $1.55 EPS. Cardinal Health’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CAH. Evercore ISI increased their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. UBS Group raised their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Argus dropped their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.45.

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.