
Cardinal Health Shares Drop on Mixed Q3 Results; Price Target Trimmed to $225
Cardinal Health reported mixed Q3 results with revenue of $60.94 billion (up 11% YoY, missing $61.7B expectations) while adjusted EPS of $3.17 beat the $2.79 consensus. The stock dropped over 6% Thursday, trading near its 200-day moving average with RSI in oversold territory. Management raised full-year EPS guidance to $10.70-$10.80, but only 13 cents of the 50-cent increase reflects operational improvement. Price target was lowered from $260 to $225.
