Cardinal Health Inc Stock Price, News & Analysis

Cardinal Health (NYSE: CAH) will announce its third-quarter financial results for fiscal year 2023 on May 4, prior to market opening. An accompanying webcast discussing these results is scheduled for 8:30 a.m. Eastern. The company, a global distributor of pharmaceuticals and medical products, operates in over 30 countries with approximately 46,500 employees. It has a robust online platform for investor relations where the webcast and presentation slides will be available for 12 months.

Swisslog announced that Cardinal Health (NYSE: CAH) will implement its AutoStore solution at a new distribution center in Grove City, Ohio. This initiative aims to boost warehouse capacity amid rapid growth in Cardinal Health's at-Home Solutions division. The AutoStore system features 31,844 storage bins, enabling efficient management of 14,154 SKUs, ultimately enhancing speed and reducing human error in order fulfillment. This marks Cardinal Health's first use of AutoStore, reflecting a commitment to modernizing operations and addressing labor shortages. The collaboration emphasizes optimizing supply chain resilience and enhancing customer service.

On March 6, 2023, Cardinal Health (NYSE:CAH) announced a collaboration with Signify Health (NYSE:SGFY) to provide in-home clinical and medication management services via its Outcomes™ business. This initiative aims to reduce healthcare costs and address medication adherence issues for over 2.3 million members across the nation. Leveraging Signify Health's network of 11,000+ clinicians and the OutcomesOne™ platform, the service intends to enhance coordinated care, focusing initially on Medicare Advantage members. The collaboration may expand to additional services, such as population health programs.

Cardinal Health (NYSE: CAH) published its 2023 Biosimilars Report on February 22, 2023, which examines provider perceptions and trends in the biosimilars market. The report shows a significant increase in familiarity with biosimilars, particularly among rheumatologists (76%) and gastroenterologists (81%). It highlights the potential for up to 10 new Humira™ biosimilars launching in 2023, and discusses the impact of the Inflation Reduction Act and the Enhancing Oncology Model on market growth. The report aims to address challenges and opportunities in the adoption of biosimilars, ensuring equitable access to essential treatments.

Cardinal Health (NYSE: CAH) announced a quarterly dividend of $0.4957 per share, reflecting its commitment to returning value to shareholders. This dividend, payable on April 15, 2023, is for shareholders on record by April 3, 2023. The company, a major player in healthcare services with 50 years in the industry and operations in over 30 countries, continues to demonstrate financial stability and shareholder confidence through regular dividend payments.

Cardinal Health (NYSE: CAH) reported a 13% revenue increase to $51.5 billion for Q2 FY23. However, it faced a GAAP operating loss of $119 million, largely due to a non-cash goodwill impairment of $709 million. Non-GAAP operating earnings remained stable at $467 million, leading to a 4% increase in non-GAAP diluted EPS, now at $1.32. The company raised its fiscal year 2023 non-GAAP EPS guidance to $5.20-$5.50. The Pharmaceutical segment saw a 15% revenue increase to $47.7 billion, while the Medical segment reported a 7% decline in revenue.

Cardinal Health (CAH) and Palantir Technologies (PLTR) have announced a strategic partnership aimed at enhancing pharmaceutical purchasing decision support for health systems and hospitals. The collaboration will utilize Palantir's Foundry platform to integrate AI and machine learning, combining clinical and purchasing data to optimize supply chain management. The solution aims to address rising drug expenses and inventory challenges, providing real-time insights to improve efficiency and access to medications. This partnership reflects Cardinal Health’s proactive approach to mitigating supply chain uncertainties in healthcare.

Cardinal Health (NYSE: CAH) is set to release its second-quarter financial results for fiscal year 2023 on February 2, prior to market opening. A webcast will begin at 8:30 a.m. Eastern to discuss these results. Cardinal Health, with over 46,500 employees globally, operates in more than 30 countries, providing essential health care services and solutions.