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Cardinal Health, Inc. (NYSE:CAH) Short Interest Up 191.9% in September

Defense World · Sep 30, 2022 03:01

Cardinal Health, Inc. (NYSE:CAH – Get Rating) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 18,360,000 shares, an increase of 191.9% from the August 31st total of 6,290,000 shares. Currently, 6.8% of the shares of the stock are short sold. Based on an average daily volume of 2,740,000 shares, the short-interest ratio is presently 6.7 days.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors have recently made changes to their positions in CAH. CFS Investment Advisory Services LLC lifted its holdings in shares of Cardinal Health by 6,455.0% in the 1st quarter. CFS Investment Advisory Services LLC now owns 1,513,493 shares of the company's stock worth $27,000 after acquiring an additional 1,490,404 shares during the last quarter. LS Investment Advisors LLC bought a new stake in shares of Cardinal Health in the 2nd quarter worth about $27,000. Manchester Capital Management LLC lifted its holdings in shares of Cardinal Health by 60.4% in the 1st quarter. Manchester Capital Management LLC now owns 494 shares of the company's stock worth $28,000 after acquiring an additional 186 shares during the last quarter. CX Institutional bought a new stake in shares of Cardinal Health in the 2nd quarter worth about $33,000. Finally, Cornerstone Advisory LLC purchased a new position in Cardinal Health in the 4th quarter worth about $35,000. Institutional investors own 85.07% of the company's stock.

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Wall Street Analyst Weigh In

CAH has been the subject of a number of analyst reports. Credit Suisse Group increased their price objective on shares of Cardinal Health from $56.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, August 12th. Cowen upped their target price on shares of Cardinal Health from $59.00 to $72.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 16th. Barclays upped their target price on shares of Cardinal Health to $67.00 in a research report on Monday, August 15th. UBS Group upped their target price on shares of Cardinal Health from $61.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, August 29th. Finally, Cowen upped their target price on shares of Cardinal Health from $59.00 to $72.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 16th. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cardinal Health has an average rating of "Hold" and a consensus target price of $70.20.

Cardinal Health Price Performance

CAH stock opened at $67.79 on Friday. Cardinal Health has a 52 week low of $45.85 and a 52 week high of $72.28. The company has a quick ratio of 0.57, a current ratio of 1.08 and a debt-to-equity ratio of 5.33. The company has a fifty day simple moving average of $66.14 and a two-hundred day simple moving average of $59.76. The firm has a market capitalization of $18.47 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

Cardinal Health (NYSE:CAH – Get Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.12). The business had revenue of $47.10 billion for the quarter, compared to the consensus estimate of $44.82 billion. Cardinal Health had a negative net margin of 0.51% and a positive return on equity of 568.57%. Cardinal Health's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 EPS. Analysts anticipate that Cardinal Health will post 5.27 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be issued a $0.4957 dividend. The ex-dividend date is Friday, September 30th. This represents a $1.98 annualized dividend and a dividend yield of 2.92%. Cardinal Health's dividend payout ratio (DPR) is presently 29.73%.

Cardinal Health Company Profile

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Cardinal Health, Inc operates as an integrated 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.