Cardinal Health, Inc. (NYSE:CAH) Short Interest Update

Cardinal Health, Inc. (NYSE:CAH) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 4,420,000 shares, a drop of 6.8% from the January 15th total of 4,740,000 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 2,300,000 shares, the short-interest ratio is currently 1.9 days.

Cardinal Health Trading Up 0.1 %

CAH stock traded up $0.14 during trading on Tuesday, hitting $126.35. The company had a trading volume of 1,973,353 shares, compared to its average volume of 2,353,499. The business has a 50-day moving average of $123.06 and a 200-day moving average of $116.74. Cardinal Health has a one year low of $93.17 and a one year high of $132.84. The stock has a market cap of $30.52 billion, a PE ratio of 23.57, a PEG ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Research analysts forecast that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

Institutional Investors Weigh In On Cardinal Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Eastern Bank bought a new position in Cardinal Health in the 3rd quarter worth about $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Cardinal Health in the 4th quarter valued at about $26,000. Frazier Financial Advisors LLC raised its holdings in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares in the last quarter. Promus Capital LLC purchased a new position in shares of Cardinal Health during the 4th quarter valued at about $30,000. Finally, Hara Capital LLC purchased a new position in shares of Cardinal Health during the 3rd quarter valued at about $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CAH shares. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research note on Tuesday, January 7th. Finally, UBS Group increased their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.87.

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.