Bank of America Reinstates McKesson Corporation to Neutral

Brokerage firm Bank of America Reinstates its rating on McKesson Corporation(NYSE:MCK). The shares have been rated Neutral. The rating by Bank of America was issued on Jun 7, 2016.

In a different note, On May 5, 2016, Avondale Partners said it Downgrades its rating on McKesson Corporation. In the research note, the firm Lowers the price-target to $203.00 per share. The shares have been rated ‘Market Perform’ by the firm. On Apr 26, 2016, Standpoint Research said it Downgrades its rating on McKesson Corporation. The shares have been rated ‘Hold’ by the firm. Avondale Partners said it Initiates Coverage on McKesson Corporation, according to a research note issued on Apr 18, 2016. The shares have been rated ‘Market Perform’ by the firm. On Mar 15, 2016, Cowen & Company said it Downgrades its rating on McKesson Corporation. In the research note, the firm Lowers the price-target to $208.00 per share. The shares have been rated ‘Market Perform’ by the firm. Credit Suisse said it Initiates Coverage on McKesson Corporation, according to a research note issued on Mar 15, 2016. The shares have been rated ‘Neutral’ by the firm.

McKesson Corporation (MCK) shares turned negative on Fridays trading session with the shares closing down -1.41 points or -0.75% at a volume of 11,27,209. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $186.54. The peak price level was also seen at $186.54 while the days lowest was $184.64. Finally the shares closed at $185.47. The 52-week high of the shares is $238.99 while the 52-week low is $148.29. According to the latest information available, the market cap of the company is $41,735 M.

McKesson Corporation(MCK) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $46.68B. Analysts had an estimated revenue of $46.85B. Earnings per share were $2.44. Analysts had estimated an EPS of $3.14.

Several Insider Transactions has been reported to the SEC. On May 25, 2016, John H Hammergren (Chairman, President & CEO) sold 37,420 shares at $182.87 per share price.Also, On May 25, 2016, Lori A. Schechter (EVP, GC & Chief Compl. Officer) sold 215 shares at $182.87 per share price.On May 25, 2016, Paul C Julian (EVP, Group President) sold 20,232 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.

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