McKesson Corporation (MCK) is Downgraded by Credit Suisse to Underperform

McKesson Corporation (MCK) was Downgraded by Credit Suisse to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Nov 23, 2016.

Many Wall Street Analysts have commented on McKesson Corporation. Mizuho Upgraded McKesson Corporation on Nov 9, 2016 to ” Buy”, Price Target of the shares are set at $147.McKesson Corporation was Downgraded by Leerink Partners to ” Mkt Perform” on Oct 28, 2016. McKesson Corporation was Upgraded by Standpoint Research to ” Buy” on Oct 28, 2016.

On the company’s financial health, McKesson Corporation reported $2.94 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus of $3.05. The company had revenue of $49957.00 million for the quarter, compared to analysts expectations of $51230.94 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.31 EPS.

McKesson Corporation closed down -1.43 points or -1.01% at $140.05 with 25,41,089 shares getting traded on Monday. Post opening the session at $141.7, the shares hit an intraday low of $139.8 and an intraday high of $142.09 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Oct 27, 2016, McKesson Corporation announced a cash dividend of $0.2800. The company’s management has announced Nov 29, 2016 as the ex-dividend date and fixed the record date on Dec 1, 2016. The payable date has been fixed on Jan 2, 2017.

In a different news, on Nov 3, 2016, Susan R Salka (director) purchased 1,000 shares at $136.35 per share price. According to the SEC, on Oct 31, 2016, Erin M Lampert (SVP & Controller) sold 921 shares at $123.99 per share price. On Sep 13, 2016, John H Hammergren (Chairman, President & CEO) sold 100,500 shares at $180.77 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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