Short Interest in Cardinal Health, Inc. (NYSE:CAH) Grows By 26.1%

Cardinal Health, Inc. (NYSE:CAH - Get Free Report) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 5,940,000 shares, an increase of 26.1% from the March 31st total of 4,710,000 shares. Based on an average daily trading volume, of 2,620,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.5% of the shares of the stock are sold short.

Cardinal Health Stock Performance

Cardinal Health stock traded up $4.06 during trading on Friday, hitting $149.59. The company's stock had a trading volume of 3,365,880 shares, compared to its average volume of 2,190,685. The stock's fifty day moving average is $132.38 and its 200 day moving average is $125.07. Cardinal Health has a 1-year low of $93.17 and a 1-year high of $150.12. The stock has a market capitalization of $36.14 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The company's quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts anticipate that Cardinal Health will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.35%. Cardinal Health's dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analyst Weigh In

CAH has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Robert W. Baird upped their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday. Citigroup raised their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Bank of America upped their target price on Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and raised their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus price target of $144.71.

Institutional Trading of Cardinal Health

Institutional investors have recently made changes to their positions in the stock. Cyrus J. Lawrence LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $26,000. Promus Capital LLC purchased a new stake in shares of Cardinal Health during the 4th quarter worth about $30,000. Bellwether Advisors LLC acquired a new stake in Cardinal Health during the 4th quarter worth approximately $32,000. Tompkins Financial Corp raised its holdings in Cardinal Health by 106.7% in the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock valued at $34,000 after buying an additional 128 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in Cardinal Health during the fourth quarter valued at approximately $35,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

About Cardinal Health

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.