QRG Capital Management Inc. Purchases 60,959 Shares of Cardinal Health, Inc. (NYSE:CAH)

QRG Capital Management Inc. increased its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 187.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,561 shares of the company's stock after buying an additional 60,959 shares during the period. QRG Capital Management Inc.'s holdings in Cardinal Health were worth $12,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cyrus J. Lawrence LLC purchased a new stake in shares of Cardinal Health in the fourth quarter worth $26,000. Promus Capital LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $30,000. Bellwether Advisors LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $32,000. Tompkins Financial Corp raised its position in Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after purchasing an additional 128 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in Cardinal Health during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group lifted their price objective on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley set a $181.00 price objective on Cardinal Health and gave the stock an "overweight" rating in a report on Friday, June 13th. Mizuho raised their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Evercore ISI reissued an "outperform" rating and issued a $180.00 target price (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Finally, Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $157.43.

Cardinal Health Stock Performance

Shares of CAH stock traded up $0.60 during mid-day trading on Wednesday, hitting $165.51. The company's stock had a trading volume of 2,598,098 shares, compared to its average volume of 2,228,577. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $169.50. The stock has a market cap of $39.50 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.84 and a beta of 0.66. The business has a 50-day moving average price of $147.47 and a 200 day moving average price of $133.26.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The firm had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same period in the prior year, the firm earned $2.08 EPS. The company's revenue was up .0% compared to the same quarter last year. Equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.23%. Cardinal Health's payout ratio is 31.51%.

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.