Short Interest in Cardinal Health Rises By 35.7% (CAH)
Cardinal Health (NYSE:CAH) saw a large growth in short interest in the month of May. As of May 30th, there was short interest totalling 5,141,177 shares, a growth of 35.7% from the May 15th total of 3,787,538 shares, Analyst Ratings News reports. Currently, 1.5% of the shares of the company are sold short. Based on an average trading volume of 1,893,302 shares, the days-to-cover ratio is presently 2.7 days.
A number of research firms have recently commented on CAH. Analysts at Zacks downgraded shares of Cardinal Health from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 11th. They now have a $74.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a research note on Monday, June 2nd. They now have a $76.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Cardinal Health in a research note on Wednesday, May 21st. They now have a $76.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $75.41.
Shares of Cardinal Health (NYSE:CAH) opened at 69.55 on Thursday. Cardinal Health has a 52 week low of $46.52 and a 52 week high of $74.40. The stock has a 50-day moving average of $68.17 and a 200-day moving average of $68.51. The company has a market cap of $23.661 billion and a P/E ratio of 68.61.
Cardinal Health (NYSE:CAH) last released its earnings data on Thursday, May 1st. The company reported $1.01 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.01. The company had revenue of $21.40 million for the quarter, compared to the consensus estimate of $21.72 million. During the same quarter last year, the company posted $1.02 earnings per share. Cardinal Health’s revenue was down 12.7% compared to the same quarter last year. Analysts expect that Cardinal Health will post $3.81 EPS for the current fiscal year.
Cardinal Health, Inc is a healthcare services company providing pharmaceutical and medical products and services to pharmacies, hospitals, ambulatory surgery centers, clinical laboratories, physician offices and other healthcare providers.