CAH – Market expectations are for fading Uniform ROA, and management has concerns about their performance and industry trends

• • • Cardinal Health, Inc. (CAH:USA)currently trades below historical averages relative to UAFRS-based (Uniform) Earnings, with a 13.9x Uniform P/E, implying bearish expectations for the firm. Moreover, management has concerns about their performance and industry trends
    • Specifically, management may be concerned about Cardinal Health’s performance in Q2 overall, and may lack confidence in their ability to take advantage of the continued movement of care to efficient settings. Additionally, they may be concerned about the falling prices of branded drugs, and may be exaggerating the benefits they have seen as a result of their value proposition shift away from distribution and towards product strategies