Cardinal Health, Inc. (NYSE:CAH) Short Interest Up 42.9% in August

Cardinal Health, Inc. (NYSE:CAH) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 9,590,000 shares, a growth of 42.9% from the August 15th total of 6,710,000 shares. Based on an average trading volume of 2,000,000 shares, the short-interest ratio is currently 4.8 days. Currently, 4.0% of the shares of the stock are sold short.

Cardinal Health Stock Up 0.7 %

Shares of NYSE CAH traded up $0.78 during trading on Friday, reaching $113.17. 1,065,523 shares of the company traded hands, compared to its average volume of 2,111,865. The firm has a 50 day simple moving average of $103.98 and a 200-day simple moving average of $104.08. Cardinal Health has a 52-week low of $85.82 and a 52-week high of $116.05. The stock has a market capitalization of $27.60 billion, a PE ratio of 50.30, a P/E/G ratio of 1.55 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.10. The company had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $1.55 earnings per share. As a group, research analysts predict that Cardinal Health will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.506 dividend. This represents a $2.02 annualized dividend and a yield of 1.79%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CAH. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Wells Fargo & Company raised their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Evercore ISI lifted their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. UBS Group increased their price objective on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Robert W. Baird boosted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.36.

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the completion of the transaction, the insider now owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,963 shares of company stock valued at $12,379,980. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Cardinal Health

A number of large investors have recently made changes to their positions in CAH. Cultivar Capital Inc. bought a new position in Cardinal Health in the 2nd quarter worth $27,000. Raleigh Capital Management Inc. lifted its position in shares of Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the 2nd quarter valued at approximately $29,000. YHB Investment Advisors Inc. purchased a new stake in Cardinal Health in the 1st quarter worth approximately $32,000. Finally, LRI Investments LLC bought a new stake in Cardinal Health during the 1st quarter worth approximately $32,000. 87.17% of the stock is currently owned by institutional investors.

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.