Cardinal Health, Inc. (NYSE:CAH) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 10,498,346 shares, an increase of 55.4% from the June 15th total of 6,756,952 shares. Based on an average daily volume of 2,700,926 shares, the days-to-cover ratio is currently 3.9 days. Approximately 3.3% of the company’s shares are short sold.
A number of large investors have recently modified their holdings of the company. Alpha Windward LLC raised its position in shares of Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock worth $179,000 after buying an additional 17 shares during the last quarter. HL Financial Services LLC raised its position 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 worth $969,000 after buying an additional 38 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position 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 worth $353,000 after buying an additional 39 shares during the last quarter. Private Trust Co. NA raised its position 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 worth $1,119,000 after buying an additional 41 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its position in shares of Cardinal Health by 0.5% in the second quarter. Wetherby Asset Management Inc. now owns 8,392 shares of the company’s stock worth $654,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.
Cardinal Health (CAH) opened at 66.98 on Friday. The firm has a market capitalization of $21.17 billion, a price-to-earnings ratio of 16.62 and a beta of 0.80. The company’s 50 day moving average price is $75.67 and its 200-day moving average price is $76.86. Cardinal Health has a 12-month low of $62.70 and a 12-month high of $84.88.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The business had revenue of $32.97 billion during the quarter, compared to analyst estimates of $32.73 billion. During the same quarter in the prior year, the business posted $1.14 EPS. Cardinal Health’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that Cardinal Health will post $4.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd will be paid a $0.4624 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.85 dividend on an annualized basis and a yield of 2.76%. Cardinal Health’s payout ratio is presently 45.79%.
A number of equities analysts have issued reports on the company. Credit Suisse Group reduced their target price on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. BidaskClub cut Cardinal Health from a “hold” rating to a “sell” rating in a report on Friday, August 4th. UBS AG reiterated a “neutral” rating and set a $76.00 price objective (down previously from $79.00) on shares of Cardinal Health in a report on Wednesday. Cowen and Company reiterated a “market perform” rating and set a $77.00 price objective (down previously from $82.00) on shares of Cardinal Health in a report on Thursday, August 3rd. Finally, Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. Cardinal Health presently has a consensus rating of “Hold” and an average price target of $80.46.
About Cardinal Health
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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