Citigroup Maintains McKesson Corporation to Buy with Price Target $225.00

Brokerage firm Citigroup Maintains its rating on McKesson Corporation(NYSE:MCK). In a research note issued to the investors, the brokerage major Raises the price-target to $225.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Jul 28, 2016.

In a different note, On Jun 28, 2016, Barclays said it Terminates its rating on McKesson Corporation. On Jun 7, 2016, Bank of America said it Reinstates its rating on McKesson Corporation. The shares have been rated ‘Neutral’ by the firm. 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.

McKesson Corporation (MCK) shares turned negative on Thursdays trading session with the shares closing down -0.66 points or -0.34% at a volume of 9,32,368. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $195.35. The peak price level was also seen at $195.35 while the days lowest was $193.5. Finally the shares closed at $194.48. The 52-week high of the shares is $224.73 while the 52-week low is $148.29. According to the latest information available, the market cap of the company is $43,895 M.

McKesson Corporation has also declared a cash dividend of $0.2800 on Jul 26, 2016. The shares will quote ex-dividend on Aug 30, 2016 and the record date has been fixed on Sep 1, 2016. The dividend payable date has been fixed on Oct 3, 2016.

McKesson Corporation(MCK) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $49.73B. Analysts had an estimated revenue of $50.35B. Earnings per share were $3.50. Analysts had estimated an EPS of $3.33.

Several Insider Transactions has been reported to the SEC. On Jul 15, 2016, James A Beer (EVP & Chief Financial Officer) sold 5,500 shares at $199.00 per share price.Also, 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.

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