Cardinal Health, Inc. (NYSE:CAH) Short Interest Update
Cardinal Health, Inc. (NYSE:CAH) was the recipient of a large growth in short interest during the month of 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 volume of 2,700,926 shares, the days-to-cover ratio is currently 3.9 days. Approximately 3.3% of the company’s stock are short sold.
In related news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $72.87, for a total transaction of $1,695,684.90. Following the completion of the sale, the insider now directly owns 55,440 shares in the company, valued at approximately $4,039,912.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.94% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Alpha Windward LLC increased its stake 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 period. HL Financial Services LLC increased 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 worth $969,000 after buying an additional 38 shares during the period. Edmond DE Rothschild Holding S.A. increased 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 worth $353,000 after buying an additional 39 shares during the period. Private Trust Co. NA increased 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 worth $1,119,000 after buying an additional 41 shares during the period. Finally, Honkamp Krueger Financial Services Inc. increased 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 worth $373,000 after buying an additional 60 shares during the period. 87.52% of the stock is owned by institutional investors.
Cardinal Health (NYSE:CAH) opened at 77.32 on Friday. The firm has a market capitalization of $24.42 billion, a price-to-earnings ratio of 18.46 and a beta of 0.81. The company’s 50-day moving average price is $76.76 and its 200 day moving average price is $77.11. Cardinal Health has a 12 month low of $62.70 and a 12 month 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.07. The company had revenue of $31.82 billion during the quarter, compared to the consensus estimate of $32.30 billion. Cardinal Health had a return on equity of 25.78% and a net margin of 1.05%. Cardinal Health’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS. Analysts predict that Cardinal Health will post $5.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Monday, July 3rd were issued a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 2.39%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, June 29th. Cardinal Health’s payout ratio is 44.05%.
A number of brokerages recently weighed in on CAH. Needham & Company LLC began coverage on Cardinal Health in a research note on Tuesday, April 4th. They set a “hold” rating for the company. Evercore ISI upgraded Cardinal Health to an “outperform” rating in a research note on Thursday, April 6th. Zacks Investment Research cut Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Credit Suisse Group restated an “outperform” rating and set a $87.00 price objective (up from $81.00) on shares of Cardinal Health in a research note on Thursday, July 13th. Finally, BidaskClub cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target 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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