McKesson Corporation (MCK) has been under a strong bear grip, hence the stock is down -1.98% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.24% in the past 1 week. The stock has risen by 0.3% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.96% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 0.26% and the 50-Day Moving Average is 2.95%. McKesson Corporation (NYSE:MCK): On Fridays trading session , Opening price of the stock was $196.28 with an intraday high of $196.5. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $194.45. However, the stock managed to close at $195.24, a loss of 0.70% for the day. On the previous day, the stock had closed at $196.62. The total traded volume of the day was 634,323 shares.
The company Insiders own 1.15% of McKesson Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -77.26% . Institutional Investors own 84.28% of McKesson Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -77.26%. Also, Brokerage firm JP Morgan maintains its rating on McKesson Corporation (NYSE:MCK). As per the latest information, the brokerage house raises the price target to $221 per share from a prior target of $210. The shares have been rated Overweight. The rating by the firm was issued on August 9, 2016.
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two business segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally. The Distribution Solutions segment provides pharmaceutical solutions for biotech and pharmaceutical manufacturers, and practice management, technology, clinical support and business solutions to oncology and other specialty practices operating in the community setting. The Technology Solutions segment delivers clinical, patient care, financial, supply chain and strategic management software solutions, as well as connectivity, outsourcing and other services, including remote hosting and managed services, to healthcare organizations.