McKesson Corporation ($MCK) Stock Forecast: Down 8.3% Today

What is McKesson Corporation?

McKesson Corporation (NYSE: MCK) is a healthcare company that provides pharmaceuticals and medical supplies. The company is one of the largest drug distributors in the United States.

Why is McKesson Corporation going down?

MCK stock is down 8.3% on Sep 5, 2024 16:43

• The bearish movement in McKesson's stock today could be attributed to the recent $300 million opioid settlement that the company, along with other drug distributors, has agreed to pay to resolve claims from health insurers and benefit plans. This settlement could have negative financial implications for McKesson in the short term.
• Bearish options activity observed by investors on McKesson's stock further indicates a lack of confidence or pessimistic sentiment surrounding the company's future performance.
• The market may be reacting to the uncertainty and potential financial impact of the settlement on McKesson's profitability and reputation, leading to a sell-off of the stock by investors anticipating a downturn in the company's prospects.
• Overall, the combination of the negative news regarding the opioid settlement and the bearish options activity likely contributed to the significant bearish movement in McKesson's stock today.

MCK Price Chart

MCK News

Decoding McKesson's Options Activity: What's the Big Picture? - McKesson ( NYSE:MCK )

Investors with a lot of money to spend have taken a bearish stance on McKesson MCK. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/09/40734129/decoding-mckessons-options-activity-whats-the-big-picture

Opioid Settlement: Drug Distributors McKesson, Cencora, Cardinal Health To Pay $300M To Health Insurers - McKesson ( NYSE:MCK ) , Cencora ( NYSE:COR ) , Cardinal Health ( NYSE:CAH )

The three largest U.S. drug distributors have reached a settlement of $300 million to resolve claims from health insurers and benefit plans over their alleged role in fueling the opioid epidemic, according to court documents filed on Friday.

https://www.benzinga.com/news/large-cap/24/09/40694838/opioid-settlement-drug-distributors-mckesson-cencora-cardinal-health-to-pay-300m-to-health-insurer

Drug distributors strike $300 million opioid settlement with US well being plans

Lusso''s News Drug distributors strike $300 million opioid settlement with US well being plans By Nate Raymond (Reuters) -The three largest U.S. drug distributors have agreed to pay $300 million to resolve claims by well being insurers and profit plans that they helped gas the lethal U.S. opioid epidemic, based on courtroom papers filed on Friday. The proposed class motion settlement with McKesson Corp (NYSE:), Cencora Inc and Cardinal […] The post Drug distributors strike $300 million opioid settlement with US well being plans appeared first on Lusso''s News . Sir Chartist

https://lussosnews.com/drug-distributors-strike-300-million-opioid-settlement-with-us-well-being-plans/

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McKesson Corporation Price History

05.08.2024 - MCK Stock was down 8.3%

• The bearish movement in McKesson's stock today could be attributed to the recent $300 million opioid settlement that the company, along with other drug distributors, has agreed to pay to resolve claims from health insurers and benefit plans. This settlement could have negative financial implications for McKesson in the short term.
• Bearish options activity observed by investors on McKesson's stock further indicates a lack of confidence or pessimistic sentiment surrounding the company's future performance.
• The market may be reacting to the uncertainty and potential financial impact of the settlement on McKesson's profitability and reputation, leading to a sell-off of the stock by investors anticipating a downturn in the company's prospects.
• Overall, the combination of the negative news regarding the opioid settlement and the bearish options activity likely contributed to the significant bearish movement in McKesson's stock today.

05.08.2024 - MCK Stock was down 6.2%

• McKesson and other leading drug distributors recently reached a substantial $300 million settlement with health insurers and benefit plans related to the opioid epidemic.
• The news of the opioid settlement likely impacted investor sentiment and contributed to the drop in McKesson's stock price.
• Investors are showing apprehension regarding the financial implications of the settlement on McKesson's future profits and possible regulatory implications within the pharmaceutical distribution sector.
• The market response suggests that investors are considering the legal and financial risks associated with McKesson's involvement in the opioid crisis, leading to the downward movement in the stock.

28.10.2023 - MCK Stock was up 0.4%

• The bullish movement in MCK's stock today can be attributed to several factors:
• 1. Positive investor sentiment: The increase in PNC Financial Services Group Inc.'s stake in McKesson indicates growing confidence in the company's future prospects, leading to increased buying activity.
• 2. Strong historical performance: The article highlighting McKesson's outperformance of the market over the past 15 years may have attracted investors seeking long-term growth opportunities.
• 3. Decrease in short interest: The decline in McKesson's short percent of float suggests that some short sellers may have covered their positions, potentially leading to a short squeeze and driving the stock price higher.
• 4. Overall market conditions: The bullish movement in MCK's stock could also be influenced by positive market sentiment and favorable economic conditions in the healthcare sector.
• In conclusion, the bullish movement in McKesson's stock today can be attributed to positive investor sentiment, strong historical performance, a decrease in short interest, and favorable market conditions in the healthcare sector.

08.01.2024 - MCK Stock was down 5.0%

• The bearish movement in MCK today can be attributed to the following factors:
• 1. Disappointing Q3 earnings: Despite beating on earnings and raising their FY24 EPS view, McKesson's results were impacted by divestment in the International segment. This may have led to concerns among investors about the company's growth prospects.
• 2. Market expectations: The upcoming earnings release for the third quarter may have influenced the bearish sentiment. Analysts were expecting McKesson to report earnings of $7.05 per share, which is slightly higher than the previous year. If the actual earnings fell short of these expectations, it could have contributed to the downward movement.
• 3. Profit-taking: McKesson has shown strong performance over the past five years, outperforming the market with an average annual return of 30.54%. Some investors may have taken this opportunity to sell their shares and lock in profits, leading to the bearish movement.
• 4. Overall market conditions: It's important to consider that broader market conditions and sentiment can also impact individual stock movements. If there was a general downturn in the healthcare sector or negative market sentiment, it could have contributed to the bearish movement in McKesson's stock.

31.04.2024 - MCK Stock was down 0.3%

• Several top executives, including the Chief Strategy & Business Development Officer, Chief HR Officer, and CFO, engaging in insider sales, could have indicated doubts about the company's future, contributing to the negative investor sentiment.
• The disclosure of executives selling a significant amount of company stock raised concerns about internal management's confidence in McKesson's performance, potentially impacting the stock negatively.
• Despite McKesson's strong market performance in the past two decades, recent insider selling activities may have overshadowed this success, leading to a decline in the stock price.
• The collective insider selling of substantial amounts of McKesson stock by multiple high-level executives likely influenced investor sentiment, resulting in the bearish movement seen in the market today.

28.10.2023 - MCK Stock was up 0.4%

• The bullish movement in MCK's stock today can be attributed to several factors:
• 1. Positive market sentiment: The medical sector is undergoing transformation and experiencing advancements in healthcare infrastructure, which has created a positive outlook for companies like McKesson.
• 2. Increased investor interest: PNC Financial Services Group Inc. recently increased its stake in McKesson, indicating growing confidence in the company's future prospects.
• 3. Strong historical performance: McKesson has consistently outperformed the market over the past 15 years, generating impressive returns for investors. This track record may have attracted more investors to the stock.
• 4. Decrease in short interest: McKesson's short percent of float has fallen, indicating a decrease in bearish sentiment and potentially leading to a positive impact on the stock's price.
• Overall, the bullish movement in McKesson's stock today can be attributed to positive market sentiment, increased investor interest, strong historical performance, and a decrease in short interest.

08.01.2024 - MCK Stock was down 5.1%

• The bearish movement in MCK stock today could be attributed to the following factors:
• 1. Earnings Expectations: Analysts were expecting McKesson to report quarterly earnings of $7.05 per share, which is higher than the previous year. If the actual earnings fall short of these expectations, it could have led to a negative market reaction.
• 2. Market Sentiment: Despite the overall market sentiment showing slight improvement, the Fear and Greed index remaining in the "Greed" zone, and U.S. stocks closing higher, McKesson's stock may have been impacted by specific factors related to the company.
• 3. Segment Performance: McKesson's third-quarter results were expected to reflect the performance of its U.S. Pharmaceutical and Specialty Solutions segment. If there were any concerns or disappointments in this segment's performance, it could have influenced the bearish movement in the stock.
• 4. Earnings Preview: The anticipation and speculation surrounding McKesson's earnings report could have contributed to the bearish movement. Investors may have been cautious or uncertain about the company's financial performance and future growth prospects.
• Overall, the bearish movement in McKesson's stock today could be a result of factors such as earnings expectations, market sentiment, segment performance, and the anticipation of the earnings report.

27.05.2024 - MCK Stock was down 1.9%

• McKesson's stock closed at $599.56 today, experiencing a -0.8% change from the previous day.
• Uncertainty among investors following the announcement of McKesson Corporation's first quarter fiscal 2025 earnings release date possibly contributed to the stock's bearish movement.
• Despite the healthcare sector's positive outlook, reflected in the Health Care Select Sector SPDR Fund's 7% YTD gain, various company-specific or market factors may have influenced McKesson's stock decline.
• Investor optimism regarding McKesson's Biologics business could serve as a catalyst for a potential stock recovery in the near term.

11.06.2024 - MCK Stock was down 2.0%

• Investor profit-taking after recent stock gains could have driven the bearish trend in McKesson.
• An analyst increasing the price target for MCK may have heightened expectations, prompting some investors to sell and secure profits.
• The general market shift towards dividend stocks might have influenced trading activity, causing some investors to move away from MCK in search of different investment opportunities.
• Developments like insider selling at Qualcomm and adjustments in price targets for stocks such as NVIDIA and Robinhood may have influenced market sentiment, playing a role in the negative movement of MCK.

08.07.2024 - MCK Stock was down 8.5%

• Weak sales in the first quarter resulted in a significant drop in McKesson's stock price.
• Despite falling short on core earnings, McKesson's stock target was raised by Mizuho, signaling some positivity about the company's future prospects.
• The underperformance in quarterly revenue was primarily linked to the U.S. pharmaceutical segment, with specialty drugs sales acting as a major drag on overall sales.
• While Q1 earnings exceeded expectations, the stock price decline today is likely a response to concerns about poor sales and revenue misses in the U.S. pharmaceutical segment.

08.07.2024 - MCK Stock was down 12.1%

• Supply and demand issues for weight-loss drugs led to a bearish movement for McKesson, impacting service sales negatively.
• Analysts' expectations were not met as the company's revenue forecast for the year fell short, resulting in a decline in stock price.
• Despite weak sales and core earnings miss, McKesson saw its stock target raised by Mizuho, hinting at optimism for the company's future performance.
• McKesson's bearish market movement today was influenced by supply chain challenges, a revenue forecast miss, and mixed analyst sentiment.

08.07.2024 - MCK Stock was down 12.5%

• The company witnessed a significant decline in its stock price today following weaker than anticipated first-quarter sales results.
• McKesson (MCK) outperformed earnings expectations and displayed revenue growth in the U.S. Pharmaceutical segment. However, reduced COVID-related sales adversely affected overall performance, particularly in the Medical Surgical Solutions segment.
• Despite falling short of core earnings expectations, a stock target increase by Mizuho could suggest some positive outlook for the company's future.
• The lower-than-expected quarterly revenue, especially in the U.S. pharmaceutical segment, where specialty drug sales for complex conditions declined, likely influenced the negative market trend.