Cardinal Health shares are trading lower. The company announced its pharmaceutical distribution contracts with OptumRx will not be renewed and reaffirmed its 2024 EPS guidance.
Portfolio Pulse from Benzinga Newsdesk
Cardinal Health's stock is trading lower following the announcement that its pharmaceutical distribution contracts with OptumRx will not be renewed. The company also reaffirmed its 2024 EPS guidance.

April 22, 2024 | 12:52 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Cardinal Health's shares are trading lower after the company announced the non-renewal of its pharmaceutical distribution contracts with OptumRx, although it reaffirmed its 2024 EPS guidance.
The non-renewal of the pharmaceutical distribution contracts with OptumRx is likely to have a negative impact on Cardinal Health's revenue and market perception in the short term, leading to a decrease in stock price. However, the reaffirmation of the 2024 EPS guidance might mitigate some of the negative impact by providing investors with confidence in the company's long-term financial health.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100