Cardinal Health, Inc. (NYSE:CAH) Short Interest Up 36.6% in August

Key Points

• Cardinal Health's short interest surged by 36.6% in August, reaching a total of 7,620,000 shares, indicating increased bearish sentiment among investors.
• Multiple analysts rated Cardinal Health with an average target price of $165.93, with the highest price target set at $203.00 by Robert W. Baird.
• The company announced a quarterly dividend of $0.5107 per share, resulting in an annualized yield of 1.4%, to be paid on October 15th.

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totaling 7,620,000 shares, anincreaseof36.6% from the July 31st total of 5,580,000 shares. Based on an average daily trading volume, of 2,250,000 shares, the short-interest ratio is currently 3.4 days. Approximately3.2% of the company's stock are sold short. Approximately3.2% of the company's stock are sold short. Based on an average daily trading volume, of 2,250,000 shares, the short-interest ratio is currently 3.4 days.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of analyst reports. Argus set a $189.00 price target on shares of Cardinal Health in a research note on Friday, August 22nd. Wells Fargo & Company reiterated an "overweight" rating and issued a $185.00 price target (up previously from $183.00) on shares of Cardinal Health in a research note on Wednesday, August 13th. Leerink Partners dropped their price target on shares of Cardinal Health from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Robert W. Baird upped their price target on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Finally, Citigroup reiterated a "neutral" rating and issued a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $165.93.

Insider Activity

In other news, CEO Jason M. Hollar sold 35,901 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $150.04, for a total transaction of $5,386,586.04. Following the sale, the chief executive officer owned 200,000 shares in the company, valued at approximately $30,008,000. The trade was a 15.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen M. Mason sold 41,575 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $148.82, for a total transaction of $6,187,191.50. Following the sale, the chief executive officer owned 26,085 shares in the company, valued at approximately $3,881,969.70. This trade represents a 61.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,676 shares of company stock worth $40,489,525. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cardinal Health

Several hedge funds and other institutional investors have recently bought and sold shares of CAH. Geode Capital Management LLC increased its position in shares of Cardinal Health by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company's stock valued at $1,069,005,000 after purchasing an additional 205,539 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cardinal Health by 40.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock valued at $575,327,000 after purchasing an additional 1,193,983 shares during the last quarter. Norges Bank purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at about $584,420,000. Northern Trust Corp increased its position in shares of Cardinal Health by 3.5% during the 1st quarter. Northern Trust Corp now owns 3,143,003 shares of the company's stock valued at $433,012,000 after purchasing an additional 105,154 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Cardinal Health by 7.3% during the 2nd quarter. Invesco Ltd. now owns 3,037,782 shares of the company's stock valued at $510,347,000 after purchasing an additional 207,750 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Up 0.5%

CAH traded up $0.73 during midday trading on Monday, hitting $150.29. 2,771,522 shares of the company traded hands, compared to its average volume of 2,647,363. The firm has a market capitalization of $35.89 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73. The company's 50-day moving average is $155.51 and its 200 day moving average is $147.27. Cardinal Health has a 52 week low of $106.54 and a 52 week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $60.16 billion for the quarter, compared to analysts' expectations of $60.91 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 EPS. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. On average, sell-side analysts predict that Cardinal Health will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.5107 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 annualized dividend and a yield of 1.4%. Cardinal Health's dividend payout ratio is currently 31.63%.

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.

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