McKesson Corporation (MCK) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $3.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.16. Analysts had a consensus of $3.34. The company posted revenue of $49733.00 million in the period, 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.
Many Wall Street Analysts have commented on McKesson Corporation. Company shares were Reiterated by Mizuho on Jun 7, 2016 to “Neutral”, Firm has raised the Price Target to $ 174 from a previous price target of $164 .McKesson Corporation was Resumed by BofA/Merrill to “Neutral” on Jun 7, 2016. McKesson Corporation was Downgraded by Avondale to ” Mkt Perform” on May 5, 2016.
McKesson Corporation closed down -3.48 points or -1.77% at $193.44 with 26,61,107 shares getting traded on Thursday. Post opening the session at $191.31, the shares hit an intraday low of $190.88 and an intraday high of $196.91 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 15, 2016, James A Beer (EVP & Chief Financial Officer) sold 5,500 shares at $199.00 per share price. According to the SEC, on May 25, 2016, John H Hammergren (Chairman, President & CEO) sold 37,420 shares at $182.87 per share price. On May 25, 2016, Lori A. Schechter (EVP, GC & Chief Compl. Officer) sold 215 shares at $182.87 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.