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CAH

Cardinal Health

$45.07

-1.68 (-3.59%)

11:35
04/17/19
04/17
11:35
04/17/19
11:35

Cardinal Health put volume heavy and directionally bearish

Bearish flow noted in Cardinal Health with 1,554 puts trading, or 2x expected. Most active are Apr-19 44.5 puts and 4/26 weekly 47.5 calls, with total volume in those strikes near 500 contracts. The Put/Call Ratio is 1.99, while ATM IV is up over 2 points on the day. Earnings are expected on May 9th.

  • 09

    May

  • 23

    Jun

CAH Cardinal Health
$45.07

-1.68 (-3.59%)

01/17/19
UBSW
01/17/19
INITIATION
Target $51
UBSW
Neutral
Cardinal Health initiated with a Neutral at UBS
UBS analyst Kevin Caliendo started Cardinal Health with a Neutral rating and $51 price target.
03/04/19
BARD
03/04/19
NO CHANGE
BARD
Baird investigation finds Ohio, like many buyers, paying too much for drugs
In a research note titled "Major Confusion: Does This Pass Your Sniff Test?," Baird analyst Eric Coldwell details the interplay between Cardinal Health's (CAH) generic marketing company Major Pharmaceuticals and CVS Health (CVS) in Ohio. In Major's catalog is Omeprazole, a generic version of Prilosec, which is available without a subscription. CVS Caremark, which had majority share of pharmacy benefit management services in Ohio, didn't use Maximum Allowable Cost for the product, which led to the state of Ohio paying $6.74 per tablet, or 19 times the amount somebody without a subscription can buy it, Coldwell tells investors in a research note, citing his own investigation. Meanwhile, over the course of five quarters in Ohio, Major's volume market share went from less than 2% to nearly 60% while dollar market share went from 12% to 95%, adds the analyst. He asks, "How does this happen?" The state of Ohio, "like so many other buyers, feels like it is paying too much for drugs," concludes Coldwell.
04/02/19
WOLF
04/02/19
INITIATION
Target $45
WOLF
Underperform
Cardinal Health initiated with an Underperform at Wolfe Research
Wolfe Research initiated Cardinal Health with an Underperform and $45 price target citing high consensus expectations despite the upcoming CVS contract expiration.
04/03/19
MSCO
04/03/19
NO CHANGE
MSCO
Morgan Stanley says Walgreens' reimbursement pressure points to distributor risk
Morgan Stanley analyst Ricky Goldwasser said the guidance cut made by Walgreens Boots Alliance (WBA) is due to the same "perfect storm of industry headwinds" addressed by CVS Health (CVS) earlier in the year, including increased reimbursement pressure, lower generic deflation, lower brand inflation and declining comparable sales in the front-end of the store. Though Walgreens management suggested reimbursement headwinds should normalize in fiscal 2020, Goldwasser said he could see more downside from continued reimbursement headwinds and structural changes if new rebate rule comes into play. He also views pharmacy reimbursement pressure as a leading indicator suggesting risk to distributors' sell side margins and earnings, including for AmerisourceBergen (ABC), which Goldwasser notes is part of the WBAD purchasing consortium. Other drug distributors include McKesson (MCK) and Cardinal Health (CAH).

TODAY'S FREE FLY STORIES

AMRN

Amarin

$18.32

-0.07 (-0.38%)

11:45
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Amarin call volume above normal and directionally bullish »

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LRN

K12

$31.11

-5.115 (-14.12%)

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CAT

Caterpillar

$138.82

-3.26 (-2.29%)

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GWW

Grainger

$292.75

-0.46 (-0.16%)

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BKU

BankUnited

$35.97

0.24 (0.67%)

11:36
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11:36
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BankUnited rating change  »

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  • 24

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GWW

Grainger

$292.73

-0.48 (-0.16%)

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  • 24

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BBY

Best Buy

$75.08

1.48 (2.01%)

, PG

Procter & Gamble

$104.47

1.28 (1.24%)

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On The Fly
Best Buy, P&G, Snap upgrades among today's top analyst calls »

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Best Buy

$75.08

1.48 (2.01%)

PG

Procter & Gamble

$104.47

1.28 (1.24%)

SNAP

Snap

$11.20

-0.79 (-6.59%)

KHC

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$32.73

-0.365 (-1.10%)

AAPL

Apple

$208.23

0.73 (0.35%)

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TEVA

Teva

$14.98

0.07 (0.47%)

, MYL

Mylan

$26.47

-0.13 (-0.49%)

11:35
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TEVA

Teva

$14.98

0.07 (0.47%)

MYL

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$26.47

-0.13 (-0.49%)

NVS

Novartis

$78.35

2.51 (3.31%)

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YPF

YPF

$14.54

-0.35 (-2.35%)

11:35
04/24/19
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Options
YPF put volume heavy and directionally bearish »

Bearish flow noted in YPF…

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  • 10

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CAT

Caterpillar

$138.44

-3.64 (-2.56%)

11:32
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Breaking Hot Stocks news story on Caterpillar »

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  • 24

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11:30
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General news
FX Action: USD-JPY »

FX Action: USD-JPY has…

CAT

Caterpillar

$138.79

-3.29 (-2.32%)

11:24
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Breaking Hot Stocks news story on Caterpillar »

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  • 24

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TSN

Tyson Foods

$73.67

-0.78 (-1.05%)

, BYND

Beyond Meat

$0.00

(0.00%)

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Periodicals
Tyson Foods quietly sells stake in Beyond Meat, Axios reports »

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$73.67

-0.78 (-1.05%)

BYND

Beyond Meat

$0.00

(0.00%)

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IVZ

Invesco

$21.55

-0.07 (-0.32%)

11:20
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Call buy in Invesco longest-dated options contracts ahead of earnings »

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ZTO

ZTO Express

$19.98

0.18 (0.91%)

11:19
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Conference/Events
ZTO Express management to meet with UBS »

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  • 25

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CAT

Caterpillar

$138.70

-3.38 (-2.38%)

11:19
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Expects to repurchase…

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  • 24

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CAT

Caterpillar

$138.58

-3.5 (-2.46%)

11:18
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Hot Stocks
Breaking Hot Stocks news story on Caterpillar »

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  • 24

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
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11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
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Technical Analysis
NYSE market internals summary »

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CAT

Caterpillar

$138.12

-3.96 (-2.79%)

11:13
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Hot Stocks
Breaking Hot Stocks news story on Caterpillar »

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  • 24

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Conference/Events
CLSA China consumer luxury analyst to hold a luncheon meeting »

China Consumer Luxury…

CAT

Caterpillar

$138.08

-4 (-2.82%)

11:10
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Caterpillar: 'Healthy' U.S. economy to be 'positive' for company »

In Construction…

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BA

Boeing

$379.16

5.12 (1.37%)

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Says paused share…

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