All articles tagged with #cardinal health
Cardinal Health and C.H. Robinson experienced significant stock breakouts following strong earnings reports and raised guidance, while Chipotle's stock declined after disappointing earnings and lower guidance, highlighting varied market reactions among top S&P 500 stocks.
Cardinal Health's stock dropped 8% after reporting mixed quarterly earnings and announcing a $1.9 billion acquisition of Solaris Health, a urology management services organization, which is expected to be slightly earnings-accretive within a year.
Cardinal Health's Specialty Alliance is acquiring Solaris Health, a leading urology MSO, to expand its multi-specialty platform, adding over 750 providers across 14 states, and strengthening its position in urology care. The deal, valued at approximately $1.9 billion, aims to accelerate Cardinal Health's growth strategy and improve patient-centered care through integrated, physician-led services.
Cardinal Health's new CEO, Jason Hollar, implemented a ruthless strategy of simplification and prioritization, including cutting underperforming segments and restructuring leadership, which successfully boosted the company's operating earnings and improved employee morale by focusing on accountability and strategic focus, leading to significant growth and M&A activity.
Cardinal Health has announced the acquisition of a majority stake in GI Alliance and the Advanced Diabetes Supply Group for $2.8 billion and $1.1 billion, respectively. These acquisitions aim to enhance Cardinal Health's growth in multi-specialty and at-home healthcare solutions. The GI Alliance acquisition will expand Cardinal Health's presence in gastroenterology, while the Advanced Diabetes Supply Group will bolster its direct-to-patient diabetes supply services. Both transactions are expected to close in early 2025, contributing to Cardinal Health's revenue and profit growth.
Cardinal Health, Ohio's largest publicly-traded company, has announced its acquisition of Cleveland-based healthcare firm Specialty Networks for $1.2 billion in cash, aiming to expand its offerings to specialty health providers.
Apple's stock dropped 1% as the tech giant reported a revenue decline for the fourth consecutive quarter, primarily due to poor sales in China. Meanwhile, Cardinal Health's shares rallied 8.2% after the drug distributor exceeded profit expectations and raised its full-year outlook. Expedia's stock soared 15.4% after the travel services company authorized a $5 billion stock buyback and reported better-than-expected adjusted profit. Block Inc. saw a 14% surge in shares as the fintech company set ambitious adjusted EBITDA targets for 2024. Additionally, DraftKings and FuboTV experienced stock gains after surpassing analyst estimates in their quarterly results.
Cardinal Health's stock dipped 1% in premarket trade after the company reported a loss of $64 million for its fiscal fourth quarter, compared to a profit of $138 million in the same period last year. The loss was primarily due to a non-cash goodwill impairment charge of $368 million. However, adjusted earnings per share came in higher than expected at $1.55, and revenue increased by 13% to $53.5 billion.