INDUSTRY: Is nothing sacred? Cardinal admits sinning

OK, not really, but serious bad news at what has been one on the health care industry strongest performers and best run companies. Cardinal Health anounced that it would miss profit forecasts, and was being investigated by the SEC. The stock is off 25%. The Street.com has (for them) a balanced article including this juicy quote from one analyst: ‘Multiple investigations, lowered guidance and a hazy outlook on growth have shaken our thesis that CAH is a ‘buy and hold forever’ stock,’ Wieland concluded.". Of course regular THCB readers know what’s coming next. I bought a small amount of Cardinal stock on a slight dip as part of my "sensible" portfolio last month! Oh well, back to crazy biotech companies with no revenue–they’re clearly safer!

Categories: Uncategorized

Tagged as: ,