Cardinal Health, Inc. (NYSE:CAH) Short Interest Down 22.2% in December

Cardinal Health, Inc. (NYSE:CAH) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 4,904,967 shares, a drop of 22.2% from the November 30th total of 6,300,853 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average trading volume of 2,521,603 shares, the days-to-cover ratio is presently 1.9 days. Based on an average trading volume of 2,521,603 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On Cardinal Health

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its position in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the period. Norges Bank bought a new position in Cardinal Health in the second quarter valued at approximately $584,420,000. Holocene Advisors LP boosted its holdings in shares of Cardinal Health by 141.4% in the third quarter. Holocene Advisors LP now owns 1,926,170 shares of the company’s stock valued at $302,332,000 after buying an additional 1,128,358 shares during the period. Zurich Insurance Group Ltd FI increased its position in shares of Cardinal Health by 4,935.9% during the first quarter. Zurich Insurance Group Ltd FI now owns 946,750 shares of the company’s stock worth $130,434,000 after acquiring an additional 927,950 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Cardinal Health by 109.3% during the third quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock worth $248,658,000 after acquiring an additional 827,446 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Cardinal Health from $185.00 to $221.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Jefferies Financial Group set a $220.00 price objective on Cardinal Health and gave the company a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, October 8th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a report on Tuesday, November 18th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.00.

Cardinal Health Stock Performance

CAH traded down $0.06 during midday trading on Tuesday, reaching $207.33. 1,205,802 shares of the company were exchanged, compared to its average volume of 2,402,944. The stock has a market capitalization of $49.26 billion, a P/E ratio of 31.27, a PEG ratio of 1.52 and a beta of 0.63. Cardinal Health has a one year low of $117.53 and a one year high of $214.93. The stock’s 50-day simple moving average is $197.29 and its 200 day simple moving average is $170.59.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, October 30th. The company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.22 by $0.33. The firm had revenue of $64.01 billion during the quarter, compared to the consensus estimate of $59.41 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 earnings per share. Cardinal Health has set its FY 2026 guidance at 9.650-9.850 EPS. On average, research analysts anticipate that Cardinal Health will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.5107 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.04 annualized dividend and a yield of 1.0%. Cardinal Health’s payout ratio is currently 30.77%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.