UPDATE: Morgan Stanley Reiterates On Cardinal Health Following CEO Conference Call
In a report published Wednesday, Morgan Stanley analyst Ricky R. Goldwasser reiterated an Overweight rating on Cardinal Health (NYSE: CAH), but removed the $76.00 price target.
In the report, Morgan Stanley noted, “Utilization trends likely positive for pharmaceutical segment; medical trends less clear. While George [Barrett, Cardinal Health CEO] did not comment on current quarter trends, he acknowledged that IMS Rx data (pointing to an improving trend for NRx in April) serves as a good proxy to assess directional script trends for CAH & large wholesalers.
"Conversely, medical segment is not well correlated with IMS data. CAH expects to continue to see fluctuations in segment demand driven by benefit design and greater consumer accountability.”
Cardinal Health closed on Tuesday at $71.10.
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