Cardinal Health Inc Stock Price, News & Analysis

Cue Health Inc. (Nasdaq: HLTH) has partnered with Cardinal Health (NYSE: CAH) to expand distribution of its COVID-19 tests across traditional and non-traditional healthcare settings. This collaboration aims to enhance the availability of Cue's nucleic acid amplification tests, which have shown 97.8% concordance with PCR tests, and the innovative at-home test, the first of its kind to gain Emergency Use Authorization from the FDA. Both professional and OTC/home test kits will be available, supporting healthcare providers’ evolving diagnostic needs.

Cardinal Health (NYSE: CAH) announced on February 9, 2022, a partnership with Kinaxis to enhance its medical supply chain operations. The Kinaxis RapidResponse platform will increase product visibility and improve supply chain agility. Initial implementation will focus on Cardinal Health at-Home Solutions, with a full rollout expected by the end of 2023. This integration aims to provide real-time insights, enabling better risk management and inventory capabilities while aiding in proactive decision-making for customer demand and supply balance.

Cardinal Health (NYSE: CAH) has announced a quarterly dividend of $0.4908 per share, reflecting its ongoing commitment to shareholder returns. This dividend will be payable on April 15, 2022, to shareholders of record as of April 1, 2022. With extensive operations across over 30 countries and approximately 44,000 employees, Cardinal Health plays a vital role in healthcare by providing pharmaceutical distribution and medical products. This announcement signifies a continued effort to maintain steady income for investors.

Cardinal Health released its 2022 Biosimilars Report, highlighting the current state and future prospects of biosimilars in the U.S. The report suggests that 2022 may be pivotal as biosimilars expand into new therapeutic areas. It presents survey data from over 320 healthcare providers, revealing a moderate readiness to discuss biosimilars among pharmacists, with only 40% feeling adequately prepared. The report includes anticipated market trends, payer coverage, and predictions for the biosimilars landscape through 2029.

Cardinal Health (CAH) reported its Q2 FY22 revenues at $45.5 billion, up 9% year-over-year, despite a GAAP operating loss of $950 million due to a $1.3 billion goodwill impairment in the Medical segment. Non-GAAP operating earnings dropped 26% to $467 million, reflecting the impact of inflation and supply chain issues. The company revised its FY2022 non-GAAP diluted EPS guidance to $5.15 to $5.50, acknowledging a significant decline in Medical segment profits and heightened inflationary pressures.

Ember Technologies and Cardinal Health (CAH) have announced a groundbreaking partnership to introduce the Ember Cube, the world's first self-refrigerated, cloud-based shipping box designed for temperature-sensitive medicines. This innovative shipping solution addresses the growing need for secure, sustainable cold chain logistics, as global spending is projected to exceed $21 billion by 2024. The Ember Cube features advanced tracking capabilities, real-time temperature monitoring, and reusable technology, significantly reducing waste from traditional packaging methods. A customer pilot is set for 2022.

Cardinal Health (NYSE: CAH) reported a fiscal year 2022 update, projecting an additional $150 million to $175 million hit to Medical segment profits due to ongoing inflation and supply chain constraints. This translates to an estimated $0.40 to $0.45 loss per share in non-GAAP diluted EPS. The company reassured that other financial expectations remain unchanged. Cardinal Health is committed to enhancing its Medical segment through operational simplification and growth investments. A presentation at the J.P. Morgan Healthcare Conference is scheduled for today.