It would be difficult to ask anything more of Cardinal Health (NYSE:CAH) this week, after it announced exceptional second-quarter results and also said it has reached an agreement to sell its Pharmaceutical Technologies and Services (PTS) segment to the Blackstone Group for approximately $3.3 billion in cash. Both events amount to important scores for the company.

The company reported a 17% increase in earnings per share from continuing operations and a 13% increase in revenue versus the prior year's Q2. Three of its four main business segments achieved double-digit revenue growth compared with the year-ago quarter. The company's Healthcare Supply Chain Services -- Pharmaceutical segment grew its revenue by 13% as the result of strong generic sales, tightened cost controls, and an acquisition.

Revenue for the Clinical Technologies and Services segment rose by 10%. The spike was primarily the result of rising demand for the company's leading-edge medical-technology solutions. The Medical Products Manufacturing segment checked in with 15% revenue growth on strong sales of its infection-prevention products.

Another Q2 highlight for Cardinal Health was its announcement to acquire SpecialtyScripts Pharmacy. The purchase should enable Cardinal to further broaden its existing portfolio of the services it offers to pharmaceutical manufacturers.

At the end of November, Cardinal Health announced its intentions to divest its PTS segment to focus its resources on its four remaining segments. The Blackstone Group transaction will do precisely that. It also gives the company additional cash that will ultimately accelerate the $2 billion share-repurchase program that management announced in August. Cardinal Health has already repurchased more than $900 million worth if its own shares to date in the fiscal year, including $300 million worth of Cardinal shares in Q2. This deal is expected to close during Cardinal's fourth quarter.

It has not been a bad time to be a holder of pharmaceutical-distributor stocks. The industry as a whole has been on fire as of late. Cardinal Health competitors AmerisourceBergen (NYSE:ABC) and McKesson (NYSE:MCK) have both recently announced 26% increases in their respective quarterly earnings. Cardinal Health's decision to sell its PTS segment, coupled with the earnings momentum it demonstrated during its Q2, should propel it to another strong quarter in Q3.

Would our Motley Fool CAPS community agree with this assessment? Cardinal Health currently has a three-star rating, with 85% of players rating it with a bullish future. Our online coordinating editor, TMFLucky11, has summarized everything you need to know about Cardinal Health. She writes, "The need here is simple: People get sick, and they need care to heal. That's where CAH comes in. As far as I'm concerned, it has great potential for growth well into the future."

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Fool contributor Billy Fisher has no financial interest in any stocks mentioned. The Fool has a disclosure policy.

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