8 Knots Management LLC Invests $62.48 Million in Cardinal Health, Inc. (NYSE:CAH)

8 Knots Management LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 528,249 shares of the company's stock, valued at approximately $62,476,000. Cardinal Health makes up about 6.3% of 8 Knots Management LLC's investment portfolio, making the stock its 7th biggest position. 8 Knots Management LLC owned approximately 0.22% of Cardinal Health as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Rothschild Investment LLC increased its stake in shares of Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company's stock valued at $101,000 after acquiring an additional 79 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Cardinal Health by 11.0% in the 4th quarter. Private Trust Co. NA now owns 930 shares of the company's stock worth $110,000 after purchasing an additional 92 shares in the last quarter. Checchi Capital Advisers LLC grew its position in Cardinal Health by 2.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock valued at $411,000 after purchasing an additional 93 shares during the period. TIAA Trust National Association increased its stake in Cardinal Health by 4.5% during the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock valued at $258,000 after purchasing an additional 94 shares in the last quarter. Finally, MWA Asset Management raised its holdings in Cardinal Health by 2.9% during the fourth quarter. MWA Asset Management now owns 3,324 shares of the company's stock worth $393,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Trading Up 2.8 %

Shares of CAH traded up $4.06 during midday trading on Friday, reaching $149.59. The stock had a trading volume of 3,365,880 shares, compared to its average volume of 2,195,707. The company has a market capitalization of $36.14 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $150.10. The company's 50-day moving average is $131.95 and its 200 day moving average is $124.73.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter last year, the business earned $2.08 earnings per share. The business's revenue was up .0% on a year-over-year basis. Research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Tuesday, April 1st. Cardinal Health's payout ratio is 37.69%.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of analyst reports. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Robert W. Baird increased their price target on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday. Wells Fargo & Company increased their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Finally, Citigroup boosted their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.71.

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.