McKesson Corporation (MCK) is Downgraded by Avondale to Mkt Perform

McKesson Corporation (MCK) was Downgraded by Avondale to ” Mkt Perform”. Earlier the firm had a rating of “Mkt Outperform ” on the company shares. Avondale advised their investors in a research report released on May 5, 2016.

Many Wall Street Analysts have commented on McKesson Corporation. McKesson Corporation was Downgraded by Standpoint Research to ” Hold” on Apr 26, 2016. 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.

On the company’s financial health, McKesson Corporation reported $2.44 EPS for the quarter, missing the analyst consensus estimate by $ -0.70 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $3.14. The company had revenue of $46678.00 million for the quarter, compared to analysts expectations of $46810.61 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS.

McKesson Corporation closed down -3.14 points or -1.87% at $165.01 with 21,27,533 shares getting traded on Wednesday. Post opening the session at $167.59, the shares hit an intraday low of $164.39 and an intraday high of $168.1 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 26, 2016, John H Hammergren (Chairman, President & CEO) sold 101,833 shares at $176.82 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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