Cardinal Health Inc Stock Price, News & Analysis

Cardinal Health released new research indicating severe burnout among oncologists, with nearly 90% reporting emotional exhaustion. Over half of oncologists feel more stressed post-COVID-19, and 30% have considered early retirement due to stress. The study highlights barriers like prior authorizations affecting patient care, with 90% citing it as a significant hurdle. Cardinal Health has invested $2.6 million in mental health initiatives and aims to support oncologists in managing stress to mitigate the projected physician shortage by 2033.

Cardinal Health (NYSE: CAH) has announced a new distribution center in Grove City, Ohio, enhancing its at-Home Solutions business. This facility, measuring 208,144 square feet, is designed with advanced logistics technology, including robotic storage and the Kinaxis® RapidResponse® platform. It aims to support the growing demand for home healthcare, creating approximately 100 jobs by November 2022. This investment is part of a multi-year strategy to expand Cardinal Health's distribution network in Central Ohio, improving operational efficiencies and customer service.

Cardinal Health (NYSE: CAH) has announced a quarterly dividend of $0.4957 per share, approved by its Board of Directors. This dividend will be paid on July 15, 2022, to shareholders on record as of July 1, 2022. With a robust operational presence in over 30 countries and approximately 44,000 employees, Cardinal Health remains a crucial player in healthcare distribution and services. This dividend reflects the company's commitment to returning value to shareholders while maintaining a strong position in the healthcare sector.

Cardinal Health reported Q3 FY22 revenues of $44.8 billion, a 14% increase from last year. However, the company faced a GAAP operating loss of $97 million, mainly due to a $474 million non-cash goodwill impairment in the Medical segment. Non-GAAP operating earnings fell 21% to $545 million, while non-GAAP diluted EPS decreased 5% to $1.45. The company finalized an opioid settlement costing up to $6 billion over 18 years. FY22 guidance was adjusted, projecting non-GAAP EPS of $5.15 to $5.25 and Medical segment profit decline of 45-55%.

AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK) have settled opioid-related claims with the Washington Attorney General, agreeing to pay up to $518 million. This payment resolves lawsuits filed by the state and its subdivisions, allowing for the dismissal of ongoing litigation. The settlement aligns with a previously announced agreement effective April 2, 2022, aimed at addressing a significant portion of opioid claims against the distributors. The companies dispute the allegations but see this as steps toward broader resolutions and relief for impacted communities.

Cardinal Health (NYSE: CAH) will release its third-quarter financial results for fiscal year 2022 on May 5 prior to market opening. A webcast discussing these results will start at 8:30 a.m. Eastern. Investors can access the webcast and slides via the company’s Investor Relations page without an access code. Cardinal Health is a global distributor of pharmaceuticals and medical products, operating in over 30 countries with approximately 44,000 employees.

Cardinal Health (CAH) announced plans to construct a 574,670 square foot medical distribution center in Columbus, Ohio, expected to be operational by late 2022 or early 2023. This facility aims to enhance safety, service quality, and operational efficiencies while accommodating fluctuations in volume and labor. The new center will replace an existing 235,000 square foot facility in Obetz and create new job opportunities in the Ohio Valley. The project is supported by a partnership with Duke Realty and is part of a broader strategy to expand U.S. warehouse capacity, ensuring better logistic support.

Cardinal Health (CAH) has launched the first surgical incise drape featuring patented BeneHold™ CHG adhesive technology, designed to reduce surgical site contamination risks. This unique drape utilizes Chlorhexidine Gluconate (CHG), an antiseptic trusted for skin preparation, to enhance patient care. Surgical site infections (SSIs), responsible for 20% of hospital-acquired infections and associated with significant costs of over $3.3 billion annually, can be mitigated by this innovative product. The drape meets FDA requirements and has shown promising results in studies against MRSA contamination.