McKesson Corporation (MCK) : On Wednesday, The money flowed into the McKesson Corporation (MCK) stock with an uptick to downtick ratio was recorded at 1.14. Transactions worth $29.14 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $25.59 million. The total money flow into the stock was $3.55 million. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $6.21 million of block transactions on upticks. The total money flow in block trades was $6.21 million. In terms of price action, McKesson Corporation (MCK) traded down $0.06 during the session at $197.91. Compared to the previous days closing, the stock was down only by -0.03%. For the week, the stock is 0.39%, over previous weeks closing.
Also, In a research note released to the investors, Barclays terminates its rating on McKesson Corporation (NYSE:MCK).Earlier, the shares were rated a Overweight by the brokerage firm. The rating by the firm was issued on June 28, 2016.
McKesson Corporation (NYSE:MCK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $198.04 and $197.85 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $199.27. The buying momentum continued till the end and the stock did not give up its gains. It closed at $198.44, notching a gain of 0.24% for the day. The total traded volume was 887,048 . The stock had closed at $197.97 on the previous day.
The stock has recorded a 20-day Moving Average of 5.28% and the 50-Day Moving Average is 8.29%. In a related news,The officer (EVP & Chief Financial Officer) of Mckesson Corp, Beer James A sold 5,500 shares at $199 on July 14, 2016. The Insider selling transaction had a total value worth of $1,094,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.