Cardinal Health, Inc.’s stock price stumbles to $98.91, marking a 3.95% downturn

Cardinal Health, Inc. (CAH)

98.91 USD -4.07 (-3.95%) Volume: 3.37M

Cardinal Health, Inc.’s stock price stands at 98.91 USD, witnessing a decline of 3.95% in the current trading session with a trading volume of 3.37M, reflecting a year-to-date percentage change of -1.88%.

Latest developments on Cardinal Health, Inc.

Cardinal Health Inc.’s stock (NYSE:CAH) experienced significant movement today following a series of key events. Despite missing expectations in third quarter earnings, Cardinal Health reported growth in its Q3 revenue and raised its fiscal year 2024 non-GAAP EPS guidance. This optimistic outlook was further bolstered when Cardinal Health beat Q3 earnings projections and increased its 2024 EPS view. However, the company’s stock saw a dip following mixed quarterly results and a warning from the US FDA regarding imported syringes not meeting standards. Despite these challenges, investment interest remains high, with Truist Financial Corp boosting its stock holdings in Cardinal Health.

Cardinal Health, Inc. on Smartkarma

Analysts at Baptista Research have been closely following Cardinal Health‘s recent financial performance. 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. They highlighted strong profit growth in both segments and expected a 7% to 9% growth in segment profit for fiscal 2024. The acquisition of Specialty Networks is seen as a key step in enhancing 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 a solid result in the last quarter, exceeding expectations and achieving significant milestones. The company saw a 10% increase in total revenue to $54.8 billion, driven primarily by the Pharma segment. Despite flat revenue in the Medical segment, Cardinal Health managed to surpass expectations in Q1, showcasing its resilience and strength in the market.

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. is positioned well for long-term success based on its Smartkarma Smart Scores. With strong scores in Resilience and Dividend, the company shows stability and a commitment to rewarding shareholders. Additionally, its Growth and Momentum scores indicate potential for continued expansion and positive market performance. While the Value score is lower, the overall outlook for Cardinal Health remains positive, making it a promising investment for the future.

As a provider of essential products and services to healthcare providers and manufacturers, Cardinal Health, Inc. plays a crucial role in the industry. With a diverse range of offerings including pharmaceutical distribution, health-care product manufacturing, and retail pharmacy franchising, the company has established itself as a key player in the healthcare sector. By maintaining strong scores in key areas such as Resilience and Dividend, Cardinal Health demonstrates its ability to weather challenges and provide value to investors over the long term.

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