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

Cardinal Health, Inc. (NYSE:CAH) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 10,498,346 shares, a growth of 55.4% from the June 15th total of 6,756,952 shares. Based on an average daily trading volume, of 2,700,926 shares, the short-interest ratio is currently 3.9 days. Currently, 3.3% of the shares of the stock are short sold.

In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the sale, the insider now owns 55,440 shares in the company, valued at $4,039,912.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.94% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. HL Financial Services LLC boosted its stake in shares of Cardinal Health by 0.3% in the first quarter. HL Financial Services LLC now owns 11,887 shares of the company’s stock valued at $969,000 after buying an additional 38 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Cardinal Health by 0.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,321 shares of the company’s stock valued at $353,000 after buying an additional 39 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Cardinal Health by 0.3% in the first quarter. Private Trust Co. NA now owns 13,731 shares of the company’s stock valued at $1,119,000 after buying an additional 41 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of Cardinal Health by 1.8% in the first quarter. Alpha Windward LLC now owns 2,282 shares of the company’s stock valued at $186,000 after buying an additional 41 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. boosted its stake in shares of Cardinal Health by 1.3% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 4,575 shares of the company’s stock valued at $373,000 after buying an additional 60 shares during the last quarter. 87.52% of the stock is owned by institutional investors and hedge funds.

Shares of Cardinal Health (CAH) opened at 78.09 on Tuesday. The company has a market capitalization of $24.67 billion, a P/E ratio of 18.64 and a beta of 0.81. The firm has a 50-day moving average of $75.06 and a 200 day moving average of $76.65. Cardinal Health has a 1-year low of $62.70 and a 1-year high of $85.52.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Monday, May 1st. The company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.07. The business had revenue of $31.82 billion during the quarter, compared to analysts’ expectations of $32.30 billion. Cardinal Health had a net margin of 1.05% and a return on equity of 25.78%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 EPS. On average, equities research analysts expect that Cardinal Health will post $5.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Monday, July 3rd were given a dividend of $0.4624 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.85 annualized dividend and a yield of 2.37%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.45. Cardinal Health’s dividend payout ratio is presently 44.05%.

A number of brokerages have weighed in on CAH. Credit Suisse Group restated an “outperform” rating and issued a $87.00 target price (up previously from $81.00) on shares of Cardinal Health in a research report on Thursday, July 13th. BidaskClub lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Evercore ISI restated an “outperform” rating on shares of Cardinal Health in a research report on Tuesday, July 4th. Zacks Investment Research lowered shares of Cardinal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Vetr upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 target price on the stock in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the company. Cardinal Health currently has a consensus rating of “Hold” and an average target price of $82.99.

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Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

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