QRG Capital Management Inc. Buys 106,682 Shares of Cardinal Health, Inc. $CAH

QRG Capital Management Inc. boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 176.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,009 shares of the company’s stock after buying an additional 106,682 shares during the quarter. QRG Capital Management Inc.’s holdings in Cardinal Health were worth $39,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CAH. BlackRock Inc. bought a new stake in shares of Cardinal Health in the 2nd quarter worth about $6,293,115,000. Wellington Management Group LLP boosted its stake in shares of Cardinal Health by 247.5% during the 2nd quarter. Wellington Management Group LLP now owns 14,860,271 shares of the company’s stock worth $3,530,206,000 after purchasing an additional 10,584,119 shares during the period. Norges Bank bought a new position in Cardinal Health during the 4th quarter valued at about $790,344,000. Bank of America Corp DE bought a new position in Cardinal Health during the 2nd quarter valued at about $689,066,000. Finally, Legal & General Group Plc purchased a new stake in Cardinal Health in the 2nd quarter worth about $438,870,000. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CAH. UBS Group raised their price objective on shares of Cardinal Health from $274.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Mizuho increased their price target on Cardinal Health from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Weiss Ratings cut Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Barclays upped their price objective on Cardinal Health from $258.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Finally, TD Cowen increased their target price on Cardinal Health from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Sixteen 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $266.56.

Cardinal Health Trading Down 0.3%

Shares of CAH traded down $0.63 during midday trading on Wednesday, reaching $221.41. 1,215,822 shares of the stock were exchanged, compared to its average volume of 1,982,420. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The company’s 50 day moving average is $233.41 and its two-hundred day moving average is $219.78. The company has a market capitalization of $51.50 billion, a P/E ratio of 30.62, a PEG ratio of 1.36 and a beta of 0.51.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The firm had revenue of $63.67 billion during the quarter, compared to the consensus estimate of $65.15 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. On average, sell-side analysts expect that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.5158 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio is currently 28.49%.

Insider Activity at Cardinal Health

In other news, insider Jessica L. Mayer sold 29,436 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $236.19, for a total value of $6,952,488.84. Following the completion of the transaction, the insider directly owned 33,076 shares of the company’s stock, valued at approximately $7,812,220.44. The trade was a 47.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michelle D. Greene sold 11,650 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the transaction, the insider directly owned 10,330 shares of the company’s stock, valued at approximately $2,434,987.60. The trade was a 53.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 210,271 shares of company stock valued at $49,626,657 over the last 90 days. Insiders own 0.12% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company that supports the pharmaceutical and medical industries. Its Pharmaceutical and Specialty Solutions segment distributes branded, generic and specialty pharmaceuticals, over-the-counter products and consumer health items to pharmacies, hospitals, health systems and other healthcare providers. The segment also provides specialty pharmaceutical services, nuclear and radiopharmaceutical products, and related support for manufacturers and providers.

Through its Global Medical Products and Distribution segment, Cardinal Health manufactures, sources and distributes medical and surgical products, including gloves, gowns, syringes, exam-room supplies and other essential equipment.