QRG Capital Management Inc. Increases Position in Cardinal Health, Inc. $CAH

QRG Capital Management Inc. lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 53.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 143,712 shares of the company’s stock after acquiring an additional 50,151 shares during the quarter. QRG Capital Management Inc.’s holdings in Cardinal Health were worth $24,144,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Cardinal Health during the first quarter worth about $26,000. GW&K Investment Management LLC increased its position in shares of Cardinal Health by 113.4% during the first quarter. GW&K Investment Management LLC now owns 271 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Cardinal Health during the first quarter worth about $48,000. Zions Bancorporation National Association UT purchased a new stake in shares of Cardinal Health during the first quarter worth about $52,000. Finally, Garde Capital Inc. purchased a new stake in shares of Cardinal Health during the first quarter worth about $52,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAH. UBS Group reiterated a “buy” rating on shares of Cardinal Health in a research note on Tuesday, August 12th. Bank of America lifted their price target on Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Wells Fargo & Company reiterated an “overweight” rating and issued a $185.00 price target (up from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Leerink Partners decreased their price target on Cardinal Health from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Finally, Robert W. Baird lifted their price target on Cardinal Health from $197.00 to $203.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 13th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.93.

Cardinal Health Stock Down 2.5%

Shares of CAH stock opened at $154.50 on Friday. The business has a 50 day moving average of $152.07 and a two-hundred day moving average of $150.25. Cardinal Health, Inc. has a 52 week low of $106.98 and a 52 week high of $168.44. The company has a market cap of $36.71 billion, a P/E ratio of 23.95, a PEG ratio of 1.34 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last issued its earnings results on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company had revenue of $60.16 billion during the quarter, compared to the consensus estimate of $60.91 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. Cardinal Health’s quarterly revenue was up .5% compared to the same quarter last year. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Cardinal Health’s payout ratio is presently 31.63%.

Insider Buying and Selling

In other news, insider Jessica L. Mayer sold 38,078 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $5,666,767.96. Following the sale, the insider owned 48,457 shares of the company’s stock, valued at approximately $7,211,370.74. The trade was a 44.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total value of $6,187,191.50. Following the sale, the chief executive officer directly owned 26,085 shares in the company, valued at approximately $3,881,969.70. This trade represents a 61.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 271,676 shares of company stock valued at $40,489,525 over the last 90 days. 0.12% of the stock is owned by corporate insiders.

Cardinal Health Company Profile

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.