Cardinal Health, Inc. (NYSE:CAH) Sees Large Growth in Short Interest

Cardinal Health, Inc. (NYSE:CAH) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 6,061,976 shares, a growth of 23.6% from the December 15th total of 4,904,967 shares. Based on an average trading volume of 1,739,392 shares, the days-to-cover ratio is presently 3.5 days. Currently, 2.6% of the company’s shares are short sold. Currently, 2.6% of the company’s shares are short sold. Based on an average trading volume of 1,739,392 shares, the days-to-cover ratio is presently 3.5 days.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAH. UBS Group raised their price target on shares of Cardinal Health from $185.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Barclays began coverage on Cardinal Health in a research report on Monday, December 8th. They set an “overweight” rating and a $243.00 target price for the company. Wells Fargo & Company upped their price target on Cardinal Health from $221.00 to $237.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, October 8th. Finally, Mizuho set a $222.00 price objective on Cardinal Health in a research note on Monday, January 12th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $216.33.

Institutional Trading of Cardinal Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its position in shares of Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after acquiring an additional 280 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Cardinal Health by 1.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,267 shares of the company’s stock worth $5,982,000 after purchasing an additional 477 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Cardinal Health by 11.9% in the second quarter. IFM Investors Pty Ltd now owns 39,802 shares of the company’s stock valued at $6,687,000 after purchasing an additional 4,232 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Cardinal Health by 7.9% during the second quarter. SeaCrest Wealth Management LLC now owns 3,460 shares of the company’s stock valued at $581,000 after buying an additional 253 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $212.44 on Tuesday. Cardinal Health has a 1 year low of $120.72 and a 1 year high of $215.48. The business’s 50-day moving average is $205.51 and its 200-day moving average is $175.13. The company has a market capitalization of $50.48 billion, a price-to-earnings ratio of 32.04, a P/E/G ratio of 1.44 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. The business had revenue of $64.01 billion during the quarter, compared to the consensus estimate of $59.41 billion. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. Analysts anticipate that Cardinal Health will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.5107 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. Cardinal Health’s dividend payout ratio is currently 30.77%.

About Cardinal Health

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.