FDA Issues Warning on Use of Cardinal Health Monoject Syringes with Certain Pumps
December 18, 2023
🌧️Trending News
The FDA has recently issued a warning regarding the use of Cardinal Health ($NYSE:CAH) Monoject syringes in certain pumps. Cardinal Health is a leading healthcare services company that provides pharmaceuticals and medical products to clinical and hospital customers across the U.S. and around the world. The company supplies products to help patients receive the best quality of care from diagnosis to treatment. The pumps can cause a malfunction in the syringes, resulting in improper flow of medication or an overdosage of medication, which can be dangerous for patients. The FDA has also advised healthcare providers to inspect all Cardinal Health Monoject syringes to ensure there is no visible damage, wear or tear to the syringe before use. If there are signs of damage, the syringe should not be used and should be discarded.
Additionally, the FDA recommends that healthcare providers review their quality assurance process and follow-up with their suppliers to ensure that all syringes comply with quality standards. By taking these precautions and following the FDA’s recommendations, healthcare providers can ensure they are providing the best possible care for their patients while minimizing any potential risks associated with using Cardinal Health Monoject syringes in certain pumps.
Stock Price
The warning comes as a result of reports that when used in specific intravenous (IV) infusion pumps, these syringes may not be able to draw or hold the full dose of medication. In response to this news, Cardinal Health‘s stock opened at $105.3 and closed at $105.5, up by 0.2% from its previous closing price of 105.3. The company has said that it is working closely with the FDA to further investigate the issue and take appropriate action. It is also working to provide alternative options for health care providers who are using the affected pumps. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cardinal Health. More…
| Total Revenues | Net Income | Net Margin |
| 210.17k | 156 | 0.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cardinal Health. More…
| Operations | Investing | Financing |
| 3.36k | -447 | -2.55k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cardinal Health. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 43.71k | 47.2k | -14.17 |
Key Ratios Snapshot
Some of the financial key ratios for Cardinal Health are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.8% | 2.5% | 0.3% |
| FCF Margin | ROE | ROA |
| 1.4% | -11.5% | 0.8% |
Analysis
At GoodWhale, we have conducted an analysis of CARDINAL HEALTH‘s financials and have determined that they are classified as ‘rhino’, a type of company we conclude that has achieved moderate revenue or earnings growth. Our Star Chart indicates that CARDINAL HEALTH is strong in asset, and medium in dividend, growth, profitability. In terms of its health score, CARDINAL HEALTH received 8 out of 10, suggesting that it is capable to sustain future operations in times of crisis. This result may be attractive to investors who prioritize stability and a strong balance sheet in their investments. Overall, CARDINAL HEALTH is a solid option for investors looking for a reliable investment with moderate growth potential. More…
Peers
Its competitors are AmerisourceBergen Corp, McKesson Corp, and Sigma Healthcare Ltd.
– AmerisourceBergen Corp ($NYSE:ABC)
AmerisourceBergen Corp is a drug wholesaler that was founded in 1985. The company has a market cap of 32.4B as of 2022 and a return on equity of 417.0%. AmerisourceBergen Corp distributes prescription drugs and other healthcare products and services to healthcare providers and pharmaceutical companies. The company operates in two segments, Pharmaceutical Distribution and Other.
– McKesson Corp ($NYSE:MCK)
McKesson Corp is a healthcare services and information technology company. It has a market cap of 55.96B as of 2022 and a Return on Equity of -74.43%. The company provides a range of services and products to healthcare providers, payers, and consumers. These services and products include prescription drugs, medical supplies, and software and technology solutions.
– Sigma Healthcare Ltd ($ASX:SIG)
Sigma Healthcare Ltd is a pharmaceutical company with a market cap of 683.23M as of 2022 and a ROE of 0.46%. The company manufactures and distributes a range of prescription and over-the-counter medicines, medical devices, and other healthcare products.
Summary
The company is well-positioned in the healthcare industry, with a diverse portfolio of products and services designed to serve healthcare providers and patients. Its focus on supply chain and inventory management, along with its commitment to delivering high-quality healthcare products and services, has enabled it to outperform competitors. Investors should also consider the FDA’s recent warning about using Cardinal Health Monoject syringes with certain pumps, which has caused some uncertainty in the stock. Despite this, analysts remain confident that the company’s long-term fundamentals remain strong.
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