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William Blair has initiated coverage on healthcare distributors Cardinal Health (CAH) and McKesson (MCK) with 'Outperform' ratings, citing strong sector momentum. Cardinal Health recently raised its fiscal-year adjusted earnings guidance for the second time this year, a move that helped investors overlook the company's mixed quarterly performance. This follows a previous earnings beat where the company reported $3.17 per share against a $2.8 estimate. Meanwhile, Tenet Healthcare (THC) contributed to the sector's positive outlook with earnings of $4.82 per share, surpassing analyst expectations. McKesson also maintained its optimistic rating despite recent reports of insider selling activity. These updates underscore analyst confidence in the dominant market positions and long-term growth potential of these pharmaceutical distribution leaders.
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