Cardinal Health Inc.NYSE
Wed, Dec. 7, 6:48 AM
- Illumina (NASDAQ:ILMN) appoints Sam Samad as SVP and Chief Financial Officer effective January 6, 2017. He will be responsible for the company's finance, accounting, investor relations, internal audit and treasury functions.
- He joins the firm from Cardinal Health (NYSE:CAH) where he was SVP and Corporate Treasurer.
Wed, Nov. 23, 3:30 PM
- Navidea Biopharmaceuticals (NAVB +4.7%) perks up on the news that it has inked an asset purchase agreement with Cardinal Health (CAH +0.5%) selling Lymphoseek (technetium Tc 99m tilmanocept).
- Under the terms of the deal, Navidea will receive $80M at closing and up to $230M in milestones through 2026, with $20.1M guaranteed over the next three years. Also, Cardinal will license a portion of the intellectual property back to Navidea to allow it to develop and market new immunodiagnostic and immunotherapeutic products in North America while continuing to produce and market Lymphoseek ex-North America under a different brand name.
- The transaction should close in Q1.
Mon, Nov. 21, 9:29 AM
- Evercore ISI's Ross Muken says drug wholesalers AmerisourceBergen (NYSE:ABC) and McKesson are in the midst of a price war, stoked by an unfavorable image from ABC's customers, although he says ABC is holding its own against the threat. He doesn't see a further erosion in margins from either firm.
- Competitor Cardinal Health (NYSE:CAH) appears to have sidestepped the tussle thus far.
- All three stocks are quiet premarket.
Thu, Nov. 3, 5:47 PM
Mon, Oct. 31, 11:59 AM
- Cardinal Health (CAH +4.6%) fiscal Q1 results ($M): Revenue: 32,039 (+14.2%); Pharmaceutical: 28,762 (+14.4%).
- Net Income: 309 (-19.3%); Non-GAAP Net Income: 399 (-12.9%); EPS: 0.96 (-16.5%); Non-GAAP EPS: 1.24 (-10.1%); CF Ops: 104 (+200.0%).
- Consensus view was EPS of $1.21 on revenues of $31.0B.
- Fiscal 2017 Guidance: Pharmaceutical segment profit: mid-to-high-single-digit drop; Non-GAAP EPS: $5.40 - 5.60 from $5.48 - 5.73.
- Shares are up despite comments from management that the near-term environment is "challenging" with public debate on drug pricing weighing on generic as well as branded meds. The company says it does not need to price below the market to compete effectively. It is also on the lookout for attractive acquisition targets but will remain disciplined in its approach.
Mon, Oct. 31, 7:02 AM
Sun, Oct. 30, 5:30 PM
Fri, Oct. 28, 11:22 AM
- Drug wholesaler McKesson's (MCK -23.2%) lackluster Q3 numbers and softer guidance due to pricing pressure is weighing on the entire drug supply chain. Competitors AmerisourceBergen (ABC -11.9%) and Cardinal Health (CAH -11.2%) report next week.
- Representative tickers: (ESRX -4.5%)(CVS -3.9%)(WBA -2.7%)(RAD -0.9%)(UNH +0.1%)
Fri, Oct. 28, 9:20 AM
Fri, Sep. 16, 12:07 PM
- C.R. Bard (NYSE:BCR) upgraded to Outperform from Market Perform by Wells Fargo.
- DexCom (NASDAQ:DXCM) upgraded to Buy from Hold by Desjardins. Downgraded to Neutral from Buy with a $92 (1% downside risk) price target by BTIG Research.
- Alimera Sciences (NASDAQ:ALIM) upgraded to Outperform from Market Perform by Cowen & Company.
- Seattle Genetics (NASDAQ:SGEN) upgraded to Neutral from Sell by Goldman Sachs. Price target raised to $47 (13% downside risk) from $30.
- Akorn (NASDAQ:AKRX) upgraded to Overweight from Neutral by Piper Jaffray. Price target raised to $34 (19% upside) from $33.
- Community Health Systems (NYSE:CYH) upgraded to Positive from Neutral by Susquehanna. Price target raised to $18 (66% upside).
- AstraZeneca (NYSE:AZN) upgraded to Buy from Hold by Jefferies. Price target raised to GBX 5,800 (14% upside) from GBX 5,400. Downgraded to Neutral from Outperform with a GBX 5,200 (2% upside) price target by BNP Paribas.
- McKesson (NYSE:MCK) downgraded to Neutral from Buy by Goldman Sachs. Price target lowered to $189 (15% upside) from $210.
- Cardinal Health (NYSE:CAH) downgraded to Neutral from Buy by Goldman Sachs. Price target lowered to $83 (8% upside) from $90.
- Novavax (NASDAQ:NVAX) downgraded to Neutral from Outperform by Wedbush. Price target lowered to $2 (44% upside) from $14. Downgraded to Neutral from Buy by Citigroup. Price target lowered to $1.50 (8% upside) from $12. Downgraded to Neutral from Overweight by JPMorgan and Piper Jaffray.
- Raptor Pharmaceutical (NASDAQ:RPTP) downgraded to Market Perform from Outperform by Cowen & Company.
- Vitae Pharmaceuticals (NASDAQ:VTAE) downgraded to Market Perform from Outperform by BMO Capital.
- Atara Biotherapeutics (NASDAQ:ATRA) downgraded to Sell from Neutral by Goldman Sachs. Price target lowered to $16 (18% downside risk) from $23.
- GlaxoSmithKline (NYSE:GSK) downgraded to Underperform from Neutral with a GBX 1,520 (6% downside risk) price target by BNP Paribas.
- Applied Genetic Technologies (NASDAQ:AGTC) downgraded to Neutral from Buy by Roth Capital. Price target lowered to $12 (34% upside) from $34. Downgraded to Hold from Buy by Cantor Fitzgerald. Price target lowered to $15 (68% upside) from $32.
- Cepheid (NASDAQ:CPHD) downgraded to Neutral from Outperform by Baird.
Tue, Sep. 6, 8:52 AM
- Nano cap Navidea Biopharmaceuticals (NYSEMKT:NAVB) is up 80% premarket on robust volume in response to its announcement that it has inked a Letter of Intent with Cardinal Health (NYSE:CAH) for the North American rights to Lymphoseek for all oncology diagnostic indications.
- Under the terms of the pending transaction, Navidea will receive $80M at closing and up to $230M in sales-based milestones.
- Cardinal will license a portion of the acquired intellectual property back to Navidea to allow it to develop new products that do not compete with the current Lymphoseek product and to continue to commercialize Lymphoseek outside of North America.
- Lymphoseek is designed for the precise identification of lymph nodes that drain from a primary tumor. These have the highest probability of harboring cancer cells.
- Update: The company will host a conference call on Wednesday, September 7 at 8:30 am ET to discuss the deal.
Mon, Aug. 8, 8:59 AM
Tue, Aug. 2, 11:14 AM
- Cardinal Health (CAH +1.9%) fiscal Q4 results: Total Revenues: $31.384B (+13.9%); Pharmaceutical: $28.177B (+14.2%); Medical: $3.21B (+12.4%).
- Net Income: $333M (+13.7%); Non-GAAP Net Income: $372M (+11.7%); EPS: $1.02 (+15.9%); Non-GAAP EPS: $1.14 (+14%); CF Ops: $641M (-26.2%).
- 2017 Guidance: Non-GAAP EPS: $5.48 - $5.73 (+5% to 9% Y/Y).
Tue, Aug. 2, 7:05 AM
Mon, Aug. 1, 5:30 PM
- ABC, ACCO, ADM, AET, AFSI, ALLT, ARW, AVP, BOFI, CAH, CARB, CEQP, CHH, CIE, CMI, CPPL, CSTM, CVS, DISCA, ECL, EIGI, EMR, ENOC, EPC, ETN, ETR, EXPD, FDP, GEO, GLT, GNRC, H, HCLP, HCN, HEP, HMC, HRS, HW, IDCC, IDXX, IIVI, IPI, IQNT, JLL, MLM, MMP, MNK, MOS, MZOR, NI, NJR, NNN, NRZ, NS, NWN, OZM, PBI, PFE, PG, PNW, RCL, RDC, RHP, SABR, SALE, SCAI, SHOO, SHPG, SODA, STX, SUI, TAP, TDC, VG, VSH, WCG, WNR, WNRL, XYL, ZEUS
Sun, Jul. 3, 2:50 PM
- via Barclays:
- "Although stocks in the U.S. and Europe have partially bounced back from the sharp selloff sparked by the U.K. referendum result, risks remain prevalent. [Analyst] Keith Parker foresees further equity downside alongside a prolonged market bottoming process, during which positioning is likely to turn much more defensive at active managers.
- "With this in mind, our stock screen this week highlights Overweight-rated stocks that screen defensively based on sector and equity beta but are also expected to generate superior ROE and free cash flows in FY1.
- "Our screen considers the following factors: i) Large-cap (US $5 billion+) stock in the consumer staples, utilities, telecom or healthcare sectors. ii) Adjusted beta less than 1.0. iii) Rated Overweight by Barclays equity research. iv) 15%+ ROE and 4.5%+ FCF yield expected in FY1, based on Barclays estimates."
- The stocks: Aetna (NYSE:AET), BT Group plc (NYSE:BT), Cardinal Health (NYSE:CAH), Coloplast (OTC:CLPBF, OTCPK:CLPBY), CVS (NYSE:CVS), Estee Lauder (NYSE:EL), Express Scripts (NASDAQ:ESRX), Glanbia (OTC:GLAPF, OTCPK:GLAPY), Grifols (NASDAQ:GRFS), Imperial Brands (OTCQX:IMBBY, OTCQX:ITYBF), Johnson & Johnson (NYSE:JNJ), Ahold (OTCQX:AHONY, OTCQX:AHODF, OTCQX:AHOND), LabCorp (NYSE:LH), Perrigo (NYSE:PRGO), Telus (NYSE:TU), Unilever (UL, UN), UnitedHealth Group (NYSE:UNH)
- See full table here.