By Mackenzie Tatananni
Cardinal Health stock jumped Tuesday after the pharmaceutical distributor boosted its fiscal-year outlook and pointed to continued growth in its specialty medicine business.
Presenting at the annual J.P. Morgan Healthcare Conference on Tuesday, Cardinal Health said it expects fiscal-year earnings of at least $10 a share, up from a prior range of $9.65 to $9.85. Analysts tracked by FactSet have been looking for $9.86 a share.
The company also projected over $50 billion in specialty revenue for the fiscal year, or revenue tied to higher-cost, complex medications such as biologics for rare diseases. If Cardinal Health reaches this milestone, it will represent a 16% compound annual growth rate over three years.
Shares gained 3.7% in premarket trading. Healthcare peers Elevance Health and UnitedHealth Group were flat and slightly lower, respectively. CVS Health, which uses Cardinal Health as a major pharmaceutical distributor, declined 0.3%.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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(END) Dow Jones Newswires
January 13, 2026 08:49 ET (13:49 GMT)
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