McKesson reported strong fiscal third quarter results with double-digit revenue growth and adjusted EPS that beat expectations. The company raised full-year earnings guidance and expanded operations in oncology, biopharma services, and North American pharmaceutical distribution. Management announced progress on separating the medical-surgical business unit, including transition service agreements and preparation for a potential IPO. Following these earnings results, multiple analysts raised price targets. TD Cowen increased its target to $1,012 from $1,000 while maintaining a Buy rating. Jefferies raised its target to $1,065 from $975, also maintaining a Buy rating. McKesson also acquired PRISM Vision and completed a significant share repurchase program. The stock rose 12.1% following the strong Q3 results but has since given back modest ground from those gains.
Read full analysisMcKesson reported strong fiscal third quarter results with double-digit revenue growth and adjusted EPS that beat expectations. The company raised full-year earnings guidance and expanded operations in oncology, biopharma services, and North American pharmaceutical distribution. Management announced progress on separating the medical-surgical business unit, including transition service agreements and preparation for a potential IPO. Following these earnings results, multiple analysts raised price targets. TD Cowen increased its target to $1,012 from $1,000 while maintaining a Buy rating. Jefferies raised its target to $1,065 from $975, also maintaining a Buy rating. McKesson also acquired PRISM Vision and completed a significant share repurchase program. The stock rose 12.1% following the strong Q3 results but has since given back modest ground from those gains.
McKesson Corporation (MCK) is a publicly traded company in the Healthcare sector.