Cardinal Health, Inc.’s Stock Price Dips to $102.83, Marking a 4.95% Decrease: Is it Time to Buy?

Cardinal Health, Inc. (CAH)

102.83 USD -5.36 (-4.95%) Volume: 5.29M

Cardinal Health, Inc.’s stock price stands at 102.83 USD, witnessing a drop of 4.95% this trading session, with a trading volume of 5.29M. Despite the daily slump, the stock maintains a positive year-to-date (YTD) percentage change of 2.01%, indicating a resilient performance in the market.

Latest developments on Cardinal Health, Inc.

Cardinal Health‘s stock price experienced significant movement today, amid news of the pharmaceutical distributor losing its contracts with UnitedHealth’s OptumRx. The non-renewal of these contracts, set to expire by end-June, has led to a 3.6% slide in Cardinal Health‘s shares. Despite this setback, the company has reaffirmed its fiscal 2024 non-GAAP EPS guidance and long-term targets, showing resilience in the face of challenges. Nevertheless, the loss of the OptumRx contract has undeniably impacted Cardinal Health‘s market position, contributing to today’s stock price fluctuations.

Cardinal Health, Inc. on Smartkarma

Analysts at Baptista Research have been closely monitoring Cardinal Health‘s performance and recent financial results. In their report titled “Cardinal Health: Expanding Acquisitions Portfolio With Specialty Networks & Other Major Drivers,” CEO Jason Hollar and CFO Aaron Alt expressed satisfaction with the company’s progress, highlighting strong profit growth in both segments. The acquisition of Specialty Networks is viewed as a strategic move to enhance Cardinal Health‘s specialty growth strategy.

In another report by Baptista Research titled “Cardinal Health: The Powerhouse Behind Today’s Medical and Pharmaceutical Breakthroughs! – Major Drivers,” analysts noted that Cardinal Health delivered solid results in the last quarter, surpassing expectations and achieving significant milestones. The company saw a 10% increase in total revenue driven by the Pharma segment, despite flat revenue in the Medical segment. These positive outcomes have contributed to a bullish sentiment towards Cardinal Health‘s future prospects.

A look at Cardinal Health, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Cardinal Health, Inc. shows a promising long-term outlook based on its Smartkarma Smart Scores. With strong scores in Resilience and Momentum, the company is well-positioned to weather challenges and maintain steady growth in the healthcare industry. Its focus on pharmaceutical distribution, healthcare product manufacturing, and consulting services bodes well for its future success.

While Cardinal Health may not score as high in terms of Value, its solid scores in Dividend and Growth indicate a stable and growing company. With a diverse range of services and a strong presence in the healthcare market, Cardinal Health is poised for continued success in the long run.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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