Cardinal Health price target lowered to $77 from $82 at Deutsche Bank

Deutsche Bank analyst George Hill lowered the firm’s price target on Cardinal Health to $77 from $82 and keeps a Hold rating on the shares. Cardinal has been able to push through composite price increases in the ballpark of 10%-11%, though this has led to wallet share losses inside of MarinHealth of potentially as much as 20%, as the other two suppliers that Marin sources from have taken much lower levels of price increases, the analyst tells investors in a research note after speaking to the procurement executive at MarinHealth. The firm believes Cardinal Health’s pricing strategy will impact volumes and it wallet share.