Cardinal Health, Inc. (NYSE:CAH) Short Interest Down 15.9% in January

Cardinal Health, Inc. (NYSE:CAH) saw a large decrease in short interest in January. As of January 15th, there was short interest totaling 5,100,946 shares, a decrease of 15.9% from the December 31st total of 6,061,976 shares. Based on an average daily trading volume, of 1,713,826 shares, the days-to-cover ratio is currently 3.0 days. Currently, 2.1% of the shares of the stock are sold short. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,713,826 shares, the days-to-cover ratio is currently 3.0 days.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAH. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. Robert W. Baird set a $250.00 price objective on Cardinal Health in a research note on Wednesday, January 14th. Wells Fargo & Company raised their target price on Cardinal Health from $221.00 to $237.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, TD Cowen reissued a “buy” rating on shares of Cardinal Health in a report on Tuesday, January 27th. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $224.73.

Cardinal Health Price Performance

Shares of CAH stock traded down $1.00 on Tuesday, reaching $217.93. 1,890,057 shares of the stock were exchanged, compared to its average volume of 1,623,877. Cardinal Health has a one year low of $120.72 and a one year high of $220.27. The stock has a market cap of $51.78 billion, a PE ratio of 32.87, a P/E/G ratio of 1.49 and a beta of 0.64. The stock has a 50 day moving average price of $206.47 and a 200 day moving average price of $178.97.

Institutional Trading of Cardinal Health

Hedge funds have recently modified their holdings of the company. NewEdge Wealth LLC grew its holdings in shares of Cardinal Health by 48.1% in the 4th quarter. NewEdge Wealth LLC now owns 3,354 shares of the company’s stock valued at $689,000 after buying an additional 1,090 shares during the period. Crossmark Global Holdings Inc. raised its stake in Cardinal Health by 3.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 62,051 shares of the company’s stock worth $12,751,000 after buying an additional 2,095 shares during the period. Ethic Inc. lifted its holdings in Cardinal Health by 5.4% during the fourth quarter. Ethic Inc. now owns 12,398 shares of the company’s stock worth $2,548,000 after acquiring an additional 637 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Cardinal Health by 1.0% in the fourth quarter. Ballentine Partners LLC now owns 5,962 shares of the company’s stock worth $1,225,000 after acquiring an additional 58 shares in the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC raised its position in shares of Cardinal Health by 30.5% during the fourth quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 6,777 shares of the company’s stock worth $1,393,000 after purchasing an additional 1,585 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Company Profile

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.