KMG Fiduciary Partners LLC Cuts Holdings in Cardinal Health, Inc. $CAH

Key Points

• KMG Fiduciary Partners cut its Cardinal Health stake by 47.4% in the second quarter, selling 24,673 shares and retaining 27,379 shares valued at approximately $6.5 million.
• Institutional ownership remains substantial at 87.17%, with several investors—including Cerity Partners, Nebula Research & Development, and Arrowstreet Capital—recently increasing or initiating positions.
• Analysts maintain a favorable view of Cardinal Health, with a consensus “Moderate Buy” rating and an average price target of $251.73, compared with the stock’s opening price of $236.77.

KMG Fiduciary Partners LLC trimmed its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 47.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,379 shares of the company's stock after selling 24,673 shares during the period. KMG Fiduciary Partners LLC's holdings in Cardinal Health were worth $6,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its holdings in shares of Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company's stock valued at $601,000 after acquiring an additional 280 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Cardinal Health by 198.3% during the first 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. Arrowstreet Capital Limited Partnership bought a new stake in Cardinal Health during the second quarter worth $1,935,000. Cerity Partners LLC boosted its position in Cardinal Health by 17.0% in the second quarter. Cerity Partners LLC now owns 40,426 shares of the company's stock worth $6,792,000 after purchasing an additional 5,880 shares during the last quarter. Finally, Nebula Research & Development LLC grew its stake in Cardinal Health by 34.4% in the 2nd quarter. Nebula Research & Development LLC now owns 10,334 shares of the company's stock valued at $1,736,000 after purchasing an additional 2,646 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on Cardinal Health from $245.00 to $255.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. William Blair began coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They set an "outperform" rating for the company. Zacks Research downgraded shares of Cardinal Health from a "strong-buy" rating to a "hold" rating in a report on Friday, June 12th. Wells Fargo & Company lowered their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Finally, Bank of America boosted their target price on shares of Cardinal Health from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $251.73.

Cardinal Health Stock Up 0.2%

NYSE CAH opened at $236.77 on Tuesday. The firm has a market cap of $55.45 billion, a P/E ratio of 36.20, a price-to-earnings-growth ratio of 1.16 and a beta of 0.49. The company's 50 day moving average is $227.47 and its 200-day moving average is $216.44. Cardinal Health, Inc. has a 12-month low of $137.75 and a 12-month high of $244.87.

Cardinal Health Company Profile

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.

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