McKesson Corporation (MCK) is Downgraded by Standpoint Research to Hold

McKesson Corporation (MCK) was Downgraded by Standpoint Research to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Standpoint Research advised their investors in a research report released on Apr 26, 2016.

Many Wall Street Analysts have commented on McKesson Corporation. Avondale Initiated McKesson Corporation on Apr 19, 2016 to “Mkt Outperform”, Price Target of the shares are set at $203.McKesson Corporation was Initiated by Credit Suisse to “Neutral” on Mar 16, 2016. Mizuho Downgraded McKesson Corporation on Mar 1, 2016 to ” Neutral”, Price Target of the shares are set at $164.

On the company’s financial health, McKesson Corporation reported $3.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $3.13. The company had revenue of $47899.00 million for the quarter, compared to analysts expectations of $48791.05 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 EPS.

McKesson Corporation opened for trading at $178.65 and hit $179.3 on the upside on Friday, eventually ending the session at $178.25, with a gain of 0.12% or 0.22 points. The heightened volatility saw the trading volume jump to 15,09,460 shares. Company has a market cap of $40,746 M.

In a different news, on Apr 5, 2016, John H Hammergren (Chairman, President & CEO) sold 45,300 shares at $159.00 per share price. According to the SEC, on Mar 16, 2016, Nigel A Rees (SVP & Controller) sold 6,000 shares at $157.59 per share price. On Feb 3, 2016, Susan R Salka (director) purchased 1,000 shares at $156.21 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.

McKesson Corporation

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