Cardinal Health (CAH) shares fell in intraday trading Monday after the health insurer provider reported that its contracts with UnitedHealth Group’s (UNH) pharmacy benefits subsidiary won’t be renewed.

The company explained that the agreements with OptumRX will expire at the end of June. It noted sales to OptumRX provided 16% of its revenue in 2023.

Cardinal Health noted that it anticipates partially offsetting the💯 impact “through a combination of new customer wins, specialty growth and oth♒er actions.”

In addition, the company affirmed its 2024 adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) guidance of $7.20 to $7.35, as well as both its Pharmaceutical and Specialty Solutions long-term segment profit 澳洲幸运5官方开奖结果体彩网:compound annual growth rate (CAGR) of 4% to 6% and its consolidated adjus𒆙ted EPS CAGR♛ target of 12% to 14% for fiscal years 2024 to 2026. 

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Jason Hollar said Cardinal Health remains “confident in the resiliency and 🌠strong value proposition of our business.”

Shares of Cardinal Health were down 5% to $102.78 as of 1:31 p.m. ET Monday.