McKesson Corporation (MCK) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Sep 16, 2016.
Many Wall Street Analysts have commented on McKesson Corporation. Company shares were Reiterated by Mizuho on Aug 11, 2016 to “Neutral”, Firm has raised the Price Target to $ 197 from a previous price target of $174 .
On the company’s financial health, McKesson Corporation reported $3.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $3.34. The company had revenue of $49733.00 million for the quarter, compared to analysts expectations of $50333.03 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.14 EPS.
McKesson Corporation closed down -8.14 points or -4.63% at $167.7 with 5,825,361 shares getting traded on Wednesday. Post opening the session at $175.59, the shares hit an intraday low of $167.35 and an intraday high of $176.36 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Sep 13, 2016, John H Hammergren (Chairman, President & CEO) sold 100,500 shares at $180.77 per share price. According to the SEC, on Sep 13, 2016, Wayne A Budd (director) sold 2,309 shares at $179.70 per share price. On Aug 23, 2016, M Christine Jacobs (director) sold 915 shares at $193.78 per share price, according to the Form-4 filing with the securities and exchange commission.
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.