QRG Capital Management Inc. Acquires 24,678 Shares of Cardinal Health, Inc. $CAH

QRG Capital Management Inc. grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 69.2% during the first quarter, HoldingsChannel.com reports. The firm owned 60,327 shares of the company’s stock after acquiring an additional 24,678 shares during the quarter. QRG Capital Management Inc.’s holdings in Cardinal Health were worth $12,748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CAH. Aventura Private Wealth LLC bought a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Cardinal Health during the fourth quarter worth approximately $26,000. Bank of Jackson Hole Trust bought a new position in Cardinal Health during the 4th quarter worth $27,000. Jones Financial Companies Lllp increased its stake in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the period. Finally, Palladiem LLC acquired a new position in Cardinal Health in the 4th quarter valued at $28,000. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CAH. Morgan Stanley increased their target price on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Citigroup reiterated a “buy” rating on shares of Cardinal Health in a research note on Thursday. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Robert W. Baird set a $248.00 price target on shares of Cardinal Health in a report on Friday, May 1st. Finally, Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $247.80.

Cardinal Health Stock Down 0.1%

Shares of CAH stock opened at $238.79 on Friday. The business has a fifty day simple moving average of $208.99 and a 200 day simple moving average of $211.70. The company has a market cap of $55.93 billion, a P/E ratio of 36.51, a P/E/G ratio of 1.17 and a beta of 0.49. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $240.93.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. The firm had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 earnings per share. Cardinal Health has set its FY 2026 guidance at 10.700-10.80 EPS. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 10.76 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

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

About Cardinal Health

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.