Short Interest in Cardinal Health, Inc. (NYSE:CAH) Decreases By 29.2%

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 4,710,000 shares, a decline of 29.2% from the March 15th total of 6,650,000 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average trading volume of 2,580,000 shares, the short-interest ratio is currently 1.8 days.

Cardinal Health Stock Up 0.4 %

Shares of CAH traded up $0.53 during midday trading on Wednesday, reaching $134.22. 1,011,511 shares of the stock were exchanged, compared to its average volume of 2,183,077. The stock's 50 day simple moving average is $130.24 and its 200 day simple moving average is $123.54. The company has a market cap of $32.42 billion, a P/E ratio of 25.04, a PEG ratio of 1.49 and a beta of 0.61. Cardinal Health has a twelve month low of $93.17 and a twelve month high of $139.50.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, analysts predict that Cardinal Health will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a $0.5056 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.51%. Cardinal Health's dividend payout ratio is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CAH shares. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target for the company in a report on Tuesday, January 7th. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and raised their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Bank of America raised their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, April 11th. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Finally, Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $140.86.

Institutional Trading of Cardinal Health

Several large investors have recently modified their holdings of the stock. Golden State Equity Partners bought a new stake in Cardinal Health during the first quarter worth about $433,000. Asset Management One Co. Ltd. boosted its position in shares of Cardinal Health by 10.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 135,595 shares of the company's stock worth $18,681,000 after acquiring an additional 12,960 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in Cardinal Health by 3.3% in the first quarter. GHP Investment Advisors Inc. now owns 38,830 shares of the company's stock valued at $5,350,000 after acquiring an additional 1,246 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Cardinal Health by 489.1% in the first quarter. Oppenheimer & Co. Inc. now owns 13,273 shares of the company's stock valued at $1,829,000 after acquiring an additional 11,020 shares during the last quarter. Finally, Longboard Asset Management LP acquired a new position in Cardinal Health during the first quarter valued at approximately $230,000. 87.17% of the stock is owned by institutional investors and hedge funds.

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.