Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 83.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 30,135 shares of the company's stock after purchasing an additional 13,697 shares during the period. QRG Capital Management Inc.'s holdings in Cardinal Health were worth $3,331,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Eastern Bank bought a new stake in Cardinal Health during the third quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health in the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health in the second quarter worth about $29,000. LRI Investments LLC bought a new position in shares of Cardinal Health in the first quarter worth about $32,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Cardinal Health in the first quarter worth about $40,000. Institutional investors own 87.17% of the company's stock.

Insider Buying and Selling

In related news, insider Jessica L. Mayer sold 17,896 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction dated 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 transaction, the insider now owns 75,971 shares in the company, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $1,905,566.08. Following the transaction, the insider now owns 94,529 shares of the company's stock, valued at $10,065,447.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock worth $12,379,980 in the last 90 days. Insiders own 0.09% of the company's stock.

Cardinal Health Price Performance

NYSE CAH traded up $2.64 during midday trading on Thursday, hitting $118.22. 2,904,760 shares of the company traded hands, compared to its average volume of 2,086,302. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $119.58. The company's 50-day simple moving average is $111.95 and its 200-day simple moving average is $104.31. The company has a market cap of $28.61 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.39 and a beta of 0.60.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts predict that Cardinal Health, Inc. will post 7.84 earnings per share for the current year.

Cardinal Health Cuts Dividend

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

Analyst Upgrades and Downgrades

CAH has been the subject of a number of recent analyst reports. Evercore ISI upped their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an "in-line" rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an "underweight" rating in a research report on Thursday, August 15th. Barclays boosted their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a research report on Monday. Citigroup decreased their target price on Cardinal Health from $115.00 to $107.00 and set a "neutral" rating on the stock in a research report on Friday, July 19th. Finally, Morgan Stanley boosted their target price on Cardinal Health from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.00.

Cardinal Health 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.