Key TakeawaysThe S&P 500 slid 0.3% on Thursday, Sept. 5, with soft private payroll data adding to concerns about the labor market ahead of Friday's jobs report.McKesson shares plunged after the medical products distributor announced plans to sell its Canada-based Rexall and Well.ca businesses.Dollar Tree shares moved higher, clawing back some of the steep losses in the previous session. Major U.S. equities indexes were mixed as the latest ADP jobs data showed a smaller-than-expected jump in private payrolls ...

McKesson Corporation (NYSE:MCK) Wells Fargo 2024 Healthcare Conference September 5, 2024 8:45 AM ET Company Participants Britt Vitalone - Executive Vice President and Chief Financial Officer Conference Call Participants Stephen Baxter - Wells Fargo Stephen Baxter Good morning. I'm Steve Baxter, the Healthcare Services Analyst at Wells Fargo. We're really pleased to have McKesson with us today. As I'm sure you know, McKesson is the largest drug distributor in the United States, also operates Pharma Services ...

McKesson (MCK) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Individual in ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about McKesson (MCK) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.McKesson currently has an average brokerage recommendation (ABR) ...

McKesson Corporation (MCK) , on Monday, inked a definitive agreement to acquire a controlling interest (representing approximately 70% ownership) in Community Oncology Revitalization Enterprise Ventures, LLC (Core Ventures), subject to customary closing conditions. Florida Cancer Specialists & Research Institute, LLC (“FCS”) physicians will retain a minority interest in Core Ventures.Core Ventures, a business and administrative services organization, was established by FCS.Following the completion of the tr ...

McKesson (MCK) is witnessing strong momentum, with its shares having rallied 18.3% year to date compared with 0.6% growth of the industry. The S&P 500 Composite has risen 16.5% during the same time frame.With healthy fundamentals and strong growth opportunities, this Zacks Rank #3 (Hold) company appears to be a solid wealth creator for its investors at the moment.Headquartered in San Francisco, CA, McKesson is a healthcare services and information technology company with two operating segments — Distributio ...

McKesson (MCK) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this prescription drug distributor have returned -5%, compared to the Zacks S&P 500 composite's -2.9% change. During this period, the Zacks Medical - Dental Supplies industry, which McKesson falls in, has gained 0.1%. The key question now is: What could be the stock's future direction?A ...

Key TakeawaysMcKesson said that limited access to weight-loss treatments because of short supplies is negatively impacting its services sales.Fiscal 2025 first-quarter revenue was well short of analysts' estimates.McKesson warned of a slowdown in the growth rate for the unit that services patients on weight-loss medications. McKesson (MCK) shares tumbled Thursday, a day after the healthcare services provider warned that limited supply of GLP-1 weight-loss drugs is hurting sales. McKesson reported first-quar ...

McKesson Corporation (MCK) reported first-quarter fiscal 2025 adjusted earnings per share (EPS) of $7.88, which beat the Zacks Consensus Estimate of $7.16 by 10.1%. The bottom line also improved 8% on a year-over-year basis.Strong earnings were primarily driven by pre-tax gains of $110 million associated with McKesson Ventures' equity investments, which incurred a loss of $7 million in the year-ago quarter. A lower share count also boosted EPS, more than offsetting higher tax outgo.GAAP EPS was $7.00, down ...

Financial Data and Key Metrics Changes - Company reported first quarter revenues of $79.3 billion, reflecting a 6% year-over-year growth [7][23] - Adjusted earnings per diluted share increased 8% to $7.88, exceeding original expectations [7][26] - Gross profit was $3.1 billion, an increase of 4%, primarily due to specialty distribution growth [23] - The company raised its full-year adjusted earnings per diluted share guidance from $31.25 to a new range of $31.75 to $32.55 [7][34] Business Line Data and Key Metrics Changes - US Pharmaceutical segment revenues were $71.7 billion, an increase of 7%, driven by increased prescription volumes, including GLP-1 medications [27][28] - Prescription Technology Solutions segment delivered revenues of $1.2 billion, with operating profit unchanged from the prior year [30] - Medical-Surgical solutions segment revenues were $2.6 billion, an increase of 1%, but operating profit decreased by 15% [31] - International segment revenues were $3.7 billion, an increase of 6%, with operating profit rising 13% [32] Market Data and Key Metrics Changes - GLP-1 medications generated revenues of $8.8 billion, a 26% increase year-over-year [27] - The Canadian business showed organic growth supported by stable pharmaceutical volume trends [13] - The primary care channel experienced a decline, impacting the Medical-Surgical segment [14][31] Company Strategy and Development Direction - The company is focused on becoming a diversified healthcare services provider, emphasizing technology investments to enhance product offerings and operational efficiencies [9][10] - A strategic alignment of oncology-related assets was announced to improve patient care experiences and streamline operations [15][16] - The company is committed to driving sustainable core growth in its distribution business despite market challenges [14][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth targets despite mixed segment results in the first quarter [20][34] - The company anticipates continued growth in the US Pharmaceutical segment, particularly in oncology and specialty pharmaceuticals [35][36] - Management acknowledged challenges in the Medical-Surgical segment due to market normalization post-COVID [14][41] Other Important Information - The Board approved a 15% increase in the quarterly dividend and an additional $4 billion share repurchase authorization [7][22] - The company is investing in AI and technology to improve operational efficiencies and customer experiences [19][44] Q&A Session Summary Question: Understanding the mix of services within access - Management explained that the mix of services shifted unexpectedly, impacting revenue [50] Question: Factors driving profit growth in the U.S. Pharma segment - Management indicated that growth in specialty and oncology areas would drive profit growth into the 8% to 10% range [54][56] Question: Changes in the MedSurg business and market dynamics - Management noted a significant decline in demand for COVID-related products and a general softness in primary care [58][59] Question: Impact of formulary changes on HUMIRA revenues - Management confirmed that a formulary change to biosimilars impacted revenues [66] Question: Product launch delays in Prescription Technology Solutions - Management acknowledged that product delays affected revenue guidance but expressed confidence in the broader service portfolio [68] Question: Opportunities for improving buy-side economics with GLP-1s - Management highlighted ongoing discussions with manufacturers to enhance service value and access [72] Question: Performance and future contributions from ClarusONE - Management expressed satisfaction with ClarusONE's performance and its role in providing competitive pricing and supply availability [75]