Cardinal Health Inc Stock Price, News & Analysis

On December 9, 2022, Cardinal Health released the 12th edition of its Oncology Insights report, highlighting health inequities in cancer care. The study indicates that 80% of oncologists recognize inequities in healthcare, with nearly 50% citing these disparities as significant in cancer treatment. Unconscious bias among providers towards non-white and Latinx patients was reported by 60% of participants. The report emphasizes the need for greater awareness, education, and evidence-based initiatives to improve access to quality care for all patients.

Cardinal Health (NYSE: CAH) has launched Velocare™, a new supply chain solution that enables rapid delivery of medical supplies for hospital-level care at home, in collaboration with Medically Home. This pilot program aims to enhance patient care by delivering essential products within one to two hours. Utilizing Cardinal Health's logistics expertise, the initiative targets high-acuity patients who previously required hospitalization. The market for at-home healthcare could reach $265 billion by 2025, according to McKinsey, indicating significant growth potential for this venture.

Cardinal Health (NYSE: CAH) has formed a strategic collaboration with Transaction Data Systems (TDS) to integrate the Outcomes platform into over 18,000 pharmacy locations. This partnership aims to enhance pharmacist workflows by connecting payers and pharmaceutical companies for improved medication adherence and patient care. The integration is expected to drive operational efficiency and generate additional revenue through clinical services. Both companies emphasize their commitment to enhancing health outcomes in the pharmacy setting.

On November 8, 2022, Cardinal Health (NYSE: CAH) announced a quarterly dividend of $0.4957 per share, reflecting its ongoing commitment to return value to shareholders. This dividend is payable on January 15, 2023, to shareholders of record by the close of business on January 3, 2023. Cardinal Health continues to strengthen its position as a key player in the healthcare sector, with its substantial operations spanning over 30 countries and a dedicated workforce of approximately 44,000 employees.

Cardinal Health reported Q1 FY23 revenues of $49.6 billion, up 13% year-over-year, with GAAP operating earnings of $137 million and diluted EPS of $0.40. Non-GAAP operating earnings fell 20% to $423 million, mainly due to a decline in the Medical segment, while non-GAAP diluted EPS decreased 7% to $1.20. The company reaffirmed its fiscal year 2023 non-GAAP EPS guidance of $5.05 to $5.40, although it adjusted Medical segment profit outlook to expect a flat to 20% decline.

Cardinal Health (NYSE: CAH) unveiled the third edition of Rheumatology Insights, revealing a significant rise in rheumatologists' familiarity with biosimilars, increasing from 53% in 2020 to 76% in 2022. Comfort in prescribing these medications also grew from 41% to 62%. The report indicates a heightened readiness for new biosimilars anticipated in 2023, particularly for adalimumab, a key product. Additionally, the report addresses health inequities in rheumatology, with 85% of rheumatologists acknowledging their existence and 58% noting worsened mental health in patients since COVID-19.

Cardinal Health (NYSE: CAH) will release its first-quarter financial results for fiscal year 2023 on November 4, before the NYSE opens. A webcast discussion will follow at 8:30 a.m. Eastern. The presentation will be available on Cardinal Health's Investor Relations page with slides and a replay accessible until November 3, 2023. Cardinal Health, a leading distributor of pharmaceuticals and medical products, operates in over 30 countries with approximately 46,500 employees.

PayrHealth has announced a collaboration with Cardinal Health (NYSE: CAH) to simplify payor contracting for specialty physician practices, focusing on rheumatology and ophthalmology. This partnership leverages Cardinal Health's Advanced Practice Analytics Technology and PayrHealth's expertise, aiming to enhance financial performance and operational efficiency. The initiative allows practices to concentrate more on patient care by managing the complexities of payor contracts. The new service will expand to additional therapeutic areas in the future.

Cardinal Health (NYSE: CAH) appointed Debbie Weitzman as the new CEO of its Pharmaceutical Segment, effective September 19, following the resignation of Victor Crawford. Weitzman, previously President of Pharmaceutical Distribution, will oversee both the Pharmaceutical and Specialty Distribution businesses, which will report directly to her. This leadership change aims to strengthen focus on specialty distribution and streamline operations. The restructuring includes the elimination of the President role in Pharmaceutical Distribution.