Cardinal Health (CAH) shares down after losing OptumRx contracts
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Go back to Cardinal Health (CAH) shares down after losing OptumRx contracts
April 23, 2024 6:21 AM EDT
Baird 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
April 22, 2024 7:29 AM EDT
By 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
