Cardinal Health Inc (NYSE:CAH) Short Interest Update

Cardinal Health Inc (NYSE:CAH) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 12,100,000 shares, a drop of 9.0% from the January 15th total of 13,300,000 shares. Based on an average daily trading volume, of 2,450,000 shares, the days-to-cover ratio is presently 4.9 days. Approximately 4.2% of the shares of the stock are sold short.

Several research firms have weighed in on CAH. Zacks Investment Research upgraded Cardinal Health from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Friday, February 7th. Guggenheim cut Cardinal Health from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Mizuho raised their price target on Cardinal Health from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, February 7th. TheStreet cut Cardinal Health from a “c+” rating to a “d” rating in a report on Thursday, November 7th. Finally, ValuEngine cut Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $58.88.

Shares of NYSE:CAH traded down $0.20 during trading on Friday, hitting $59.20. The company had a trading volume of 183,208 shares, compared to its average volume of 2,951,769. The stock has a market cap of $17.27 billion, a price-to-earnings ratio of -4.15, a price-to-earnings-growth ratio of 1.79 and a beta of 1.36. Cardinal Health has a one year low of $41.03 and a one year high of $60.69. The company has a fifty day simple moving average of $53.09 and a two-hundred day simple moving average of $50.02. The company has a debt-to-equity ratio of 6.73, a current ratio of 1.03 and a quick ratio of 0.48.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.30. The business had revenue of $39.77 billion during the quarter, compared to analyst estimates of $39.33 billion. Cardinal Health had a positive return on equity of 45.21% and a negative net margin of 2.81%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS. On average, equities research analysts anticipate that Cardinal Health will post 5.37 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.4811 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.25%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, March 31st. Cardinal Health’s dividend payout ratio (DPR) is presently 36.36%.

Large investors have recently bought and sold shares of the company. Zeke Capital Advisors LLC lifted its stake in shares of Cardinal Health by 370.7% in the 3rd quarter. Zeke Capital Advisors LLC now owns 24,322 shares of the company’s stock valued at $1,148,000 after purchasing an additional 19,155 shares during the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its stake in shares of Cardinal Health by 8.1% during the 3rd quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 154,635 shares of the company’s stock worth $7,297,000 after acquiring an additional 11,550 shares during the last quarter. Sigma Planning Corp lifted its stake in shares of Cardinal Health by 31.6% during the 3rd quarter. Sigma Planning Corp now owns 26,919 shares of the company’s stock worth $1,270,000 after acquiring an additional 6,461 shares during the last quarter. State of Tennessee Treasury Department lifted its stake in shares of Cardinal Health by 325.1% during the 3rd quarter. State of Tennessee Treasury Department now owns 291,981 shares of the company’s stock worth $13,779,000 after acquiring an additional 223,298 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in shares of Cardinal Health by 82.7% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 21,206 shares of the company’s stock worth $1,005,000 after acquiring an additional 9,598 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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