NEW YORK (AP) Shares of drug distributor Cardinal Health Inc. rose Friday after a Raymond James analyst raised his rating on the stock, saying prescription trends are getting better and sale prices should hold steady.
John Ransom upgraded shares of the Dublin, Ohio, company to "market perform" from "underperform." He said Cardinal Health might be able to surpass Wall Street expectations of $98.22 billion in annual revenue because of better prescriptions and growing market share. He said Cardinal Health has repriced major contracts with drugstore chains CVS Caremark Corp. and Walgreen Co. over the last year-plus, which should keep its prices steady after several difficult years. Ransom said he believes that will lead to stable or growing profit margins. The analyst said he believes Cardinal Health shares are inexpensive compared to rival drug distributors AmerisourceBergen Corp. and McKesson Corp. In afternoon trading, the stock advanced 77 cents, or 2.8 percent, to $28.68.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
Connect with TheStreet
 |
 |
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.91 | 1,096.40 | 2,151.22 | 32.33 |
Oil *
76.70
|
|
DOWN
119.49
|
DOWN
14.23
|
DOWN
24.83
|
DOWN
0.46
|
10 Yr
3.23%
SPDR Gold
115.51
|
|
-1.14%
|
-1.28%
|
-1.14%
|
-1.40%
|
Data delayed 20 minutes |
