[PRNewswire] McKesson Corp (NYSE:MCK)(TREND ANALYSIS) and Albertsons announced the signing of a five-year distribution agreement to include the sourcing and distribution of both branded and generic pharmaceuticals, commencing on April 1, 2016. As part of the agreement, Albertsons’ network of nearly 1,700 pharmacies in their 2,200 stores across the country will benefit from the scale and strength of McKesson’s proprietary OneStop® generics program and efficiency of McKesson’s daily direct-to-store service model for pharmaceutical products.
Both McKesson and Albertsons have a long history as trusted partners in helping to impact patient care through quality products and services. This agreement leverages the strength of McKesson as a global leader in pharmaceutical sourcing and supply chain management and the value, convenience and superior service that make Albertsons’ stores the favorite local supermarket and best neighborhood destination for health and wellness needs.
Stock Performance: Click here for a free comprehensive Trend Analysis Report
McKesson Corp (NYSE:MCK) stock is currently trading 17.73% below its 52-week-high, 25.18% above its 52-week-low. The 1-year stock price history is in the range of $160.1 – $243.61. McKesson Corp (MCK) has a price to earnings ratio of 28.63 versus Services sector average of 18.04. MCK stock price has outperformed the S&P 500 by 1.5%. The Medical-Wholesale Drug Distribution company is currently valued at $46.58 billion and its share price closed the last trading session at $200.41. The stock has a 50-day moving average of $207.82 and a 200-day moving average of $224.39.
McKesson Corp (MCK) current short interest stands at 2.14 million shares. It has increased by 7% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.83 million shares, the number of days required to cover the short positions stand at 1.2 days.
The company is expected to announce next quarter earnings on October 27, at consensus estimate of $3.06. McKesson Corp (MCK) reported last quarter earnings on July 29. The Medical-Wholesale Drug Distribution company announced earnings per share of $3.14 against a consensus Street estimate of $2.89, beating the average estimate by $0.25. This corresponds to an increase of $0.4 compared to the same quarter of the previous fiscal year.
Stock Analysts Perspectives : Click here for a free Trend Analysis Report
There are currently eighteen analysts that cover McKesson Corp stock. Of those eighteen, eighteen have a Buy rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $256.33.
A recent analyst activity consisted of Baird reiterating their Outperform stance on May 13. Baird increased their price target on MCK from $250 to $260. This corresponds to a 29.73% upside from the last closing price. On the date of report, the stock closed at $231.82.
Barclays reiterated their Overweight stance on the same day, and increased their price target on MCK stock from $244 to $245. This corresponds to a 22.25% upside from the last closing price. On the date of report, the stock closed at $231.82.
Another research firm was Deutsche Bank who reiterated their Buy stance on March 19. Deutsche Bank decreased price target from $248 to $241. This translates to a 20.25% upside from the last closing price. On the date of report, the stock closed at $225.2.
Company profile
McKesson Corporation distributes pharmaceuticals, medical-surgical supplies, and health and beauty care products throughout North America. The Company also develops, implements, and supports software that facilitates the integration of data throughout the health enterprise. In addition, McKesson offers analytic, care management, and patient solutions for payers.
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