Shares of healthcare services company, Cardinal Health, Inc. (CAH) fell over -7% on Tuesday following the news of AmerisourceBergen (ABC) taking over its role of pharmaceutical distributor for Walgreen Co. (WAG).
Shares of CAH dropped on Tuesday morning following the news that its distribution contract with Walgreen will expire in August and not be renewed.
Rival company, AmerisourceBergen reported that it has entered into a 10 year distribution agreement with Walgreens on Tuesday.
Cardinal Health shares were down -$3.34, or -7.24% during Tuesday morning trading. The stock has increased 3.5% in the past year.
The Bottom Line
Shares of Cardinal Health, Inc. (CAH) have a 2.56% yield, based on Tuesday morning’s price of $42.97.
Cardinal Health, Inc. (CAH) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.