Shares of Cardinal Health Inc.
CAH,
were down 1% premarket on Monday after analysts at Evercore ISI downgraded the stock to an in-line rating, from outperform previously. The healthcare services company’s share valuation now fully reflects its improving fundamentals and potential upside, the analysts wrote in a research note Monday. In Cardinal’s medical products and supplies segment, “improvement has been slower than expected,” the analysts wrote. The company’s pharmaceutical business, they wrote, is benefiting from stronger prescription utilization and favorable drug-pricing trends.
