Cardinal Health, Inc. $CAH Shares Sold by Kwmg LLC

Kwmg LLC trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,319 shares of the company’s stock after selling 2,295 shares during the period. Cardinal Health comprises about 1.3% of Kwmg LLC’s investment portfolio, making the stock its 26th largest position. Kwmg LLC’s holdings in Cardinal Health were worth $17,893,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Cooper Financial Group purchased a new stake in shares of Cardinal Health during the second quarter worth about $214,000. Elevation Wealth Partners LLC lifted its stake in shares of Cardinal Health by 282.5% during the second quarter. Elevation Wealth Partners LLC now owns 153 shares of the company’s stock valued at $36,000 after buying an additional 113 shares during the period. Czech National Bank lifted its stake in shares of Cardinal Health by 4.0% during the second quarter. Czech National Bank now owns 66,664 shares of the company’s stock valued at $15,837,000 after buying an additional 2,577 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab boosted its position in Cardinal Health by 15.1% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 87,295 shares of the company’s stock worth $20,738,000 after acquiring an additional 11,455 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Cardinal Health by 3.6% during the second quarter. Assenagon Asset Management S.A. now owns 12,090 shares of the company’s stock worth $2,872,000 after acquiring an additional 417 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Down 0.5%

NYSE:CAH opened at $236.57 on Friday. The company has a market cap of $55.41 billion, a P/E ratio of 36.17, a P/E/G ratio of 1.16 and a beta of 0.49. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $244.87. The firm’s 50 day moving average is $226.64 and its two-hundred day moving average is $216.23.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAH shares. Robert W. Baird set a $248.00 price target on Cardinal Health in a report on Friday, May 1st. William Blair started coverage on Cardinal Health in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. TD Cowen upped their target price on Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded Cardinal Health from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $251.73.

Cardinal Health 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.