Goldman Sachs Downgrades McKesson Corporation to Neutral with Price Target $189.00

Brokerage firm Goldman Sachs Downgrades its rating on McKesson Corporation(NYSE:MCK). In a research note issued to the investors, the brokerage major Lowers the price-target to $189.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Sep 16, 2016.

In a different note, On Aug 9, 2016, JP Morgan said it Maintains its rating on McKesson Corporation. In the research note, the firm Raises the price-target to $210.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 28, 2016, Citigroup said it Maintains its rating on McKesson Corporation. In the research note, the firm Raises the price-target to $215.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 28, 2016, Morgan Stanley said it Maintains its rating on McKesson Corporation. In the research note, the firm Raises the price-target to $199.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 28, 2016, Barclays said it Terminates its rating on McKesson Corporation.

McKesson Corporation (MCK) made into the market gainers list on Thursdays trading session with the shares advancing 1.03% or 1.72 points. Due to strong positive momentum, the stock ended at $168.12, which is also near the day’s high of $168.89. The stock began the session at $167.1 and the volume stood at 19,49,856 shares. The 52-week high of the shares is $206.63 and the 52 week low is $148.29. The company has a current market capitalization of $37,945 M and it has 22,57,01,960 shares in outstanding.

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 Sep 13, 2016, John H Hammergren (Chairman, President & CEO) sold 100,500 shares at $180.77 per share price.Also, On Sep 13, 2016, Wayne A Budd (director) sold 2,309 shares at $179.70 per share price.On Aug 23, 2016, M Christine Jacobs (director) sold 915 shares at $193.78 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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