Cardinal Health (CAH) shares down after losing OptumRx contracts
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/23/2026
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- Chip stocks plunge, but bargain-hunters limit scale of tech rout
- FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
- Oil prices finish 1% lower as investors focus on Hormuz flows after peace talks
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- Needham Starts NeoVolta (NEOV) at Buy
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
Baird Defends Cardinal Health (CAH): 'Market fears played out, buyers on weakness'
April 23, 2024 6:21 AM EDTBaird analyst Eric Coldwell reiterated an Outperform rating and $134.00 price target on Cardinal Health (NYSE: CAH).
The analyst comments "Market fears played out, buyers on weakness. We have long posited that CAH could well absorb loss of OptumRx given strong underlying market fundamentals,... More
Drug distributor Cardinal Health to lose OptumRx contracts
April 22, 2024 7:29 AM EDTBy Mariam Sunny
(Reuters) - Cardinal Health said on Monday its contracts with UnitedHealth Group's OptumRx, one of its largest customers, will not be renewed after they expire at the end of June, sending the drug distributor's shares down about 6%.
At least two analysts said rival McKesson would get Optum's contracts. McKesson did not immediately respond to a Reuters request for comment.
The loss of Optum contracts was an "unexpected disappointment," Leerink... More
