KMG Fiduciary Partners LLC Trims Position in Cardinal Health, Inc. $CAH

KMG Fiduciary Partners LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 47.4% during the 2nd quarter, HoldingsChannel reports. 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAH. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $26,000. Allied Private Wealth LLC bought a new stake in Cardinal Health during the 2nd quarter worth approximately $30,000. Bank of Jackson Hole Trust purchased a new stake in Cardinal Health in the 4th quarter worth approximately $27,000. Indiana Trust & Investment Management Co purchased a new stake in Cardinal Health in the 1st quarter worth approximately $29,000. Finally, Palladiem LLC bought a new position in Cardinal Health in the 4th quarter valued at $28,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. TD Cowen lifted their price objective on Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Robert W. Baird set a $248.00 target price on Cardinal Health in a research report on Friday, May 1st. Mizuho upped their target price on Cardinal Health from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, Citigroup raised their price target on Cardinal Health from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, July 24th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $251.73.

Cardinal Health Trading Up 0.2%

NYSE CAH opened at $236.77 on Tuesday. The firm has a market cap of $55.45 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 1.16 and a beta of 0.49. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $244.87. The stock has a 50-day moving average of $227.47 and a 200-day moving average of $216.44.

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.