posted first-quarter earnings that were in line with analysts' expectations.
The pharmaceutical distributor reported first-quarter earnings of $184 million, or 65 cents a diluted share, meeting the 17-analyst
First Call/Thomson Financial
consensus estimate. The company earned $152 million, or 53 cents a share, for the same period a year ago. The latest first-quarter earnings exclude merger costs.
Total revenue, including bulk deliveries to customer warehouses, rose to $8.73 billion from $6.78 billion the previous year.
Cardinal was met with a downgrade from
to market outperform and was removed from the firm's recommended list.
Shares of Cardinal Health were recently down $5.38, or 5.7%, to $89.50 on the
New York Stock Exchange