McKesson Corporation (MCK)

McKesson's stock experienced notable movements over the past six months. The company reported its Q1 2026 earnings on August 6, 2025, and its Q2 2026 earnings on November 5, 2025, raising its full-year adjusted EPS guidance. On February 4, 2026, McKesson announced strong third-quarter results, leading the company to raise and narrow its fiscal 2026 adjusted EPS guidance range. Following the Q3 earnings report, MCK shares surged by over 16%, reaching a new peak of $949.55, before closing with a 0.95% decline on February 6, 2026. McKesson declared quarterly dividends on October 30, 2025, and January 28, 2026. The company completed the sale of its Norwegian retail and distribution businesses on January 30, 2026. On January 1, 2026, McKesson advanced its planned separation of the Medical-Surgical Solutions segment by implementing transition service agreements.

Demand seasonality for McKesson's products and services is influenced by illness seasons and annual programs. The company observed "soft illness season demand" in its fiscal third quarter, with illness severity levels peaking in December based on CDC data. Annual verification programs in its Prescription Technology Solutions segment, typically occurring in the fiscal fourth quarter, can drive year-over-year volume increases. The demand for GLP-1 medications has been a significant growth catalyst, though management has signaled some uncertainty around future channel dynamics. The medical-surgical solutions segment experienced a 10% decline in operating profit due to lower physician office volumes and a softer seasonal illness incidence.

McKesson Corporation is a global leader in healthcare services, specializing in the distribution of pharmaceuticals and medical supplies, and providing health information technology and health management tools. The company distributes branded, generic, and specialty pharmaceutical products to pharmacies, hospitals, and healthcare providers, delivering a significant portion of all pharmaceutical products used in North America. It also provides a wide range of medical supplies, healthcare technology solutions, and health management tools. McKesson develops and sells healthcare optimization services and software, like McKesson Capacity Planner. The company focuses on community oncology and specialty care through its oncology and specialty care platform and expands services for biopharmaceutical companies. McKesson delivers essential care through its retail businesses, though it recently divested its Canada-based Rexall and Well.ca businesses, and provides technologies for sorting, filling, and packing medications.

McKesson Corporation has an extensive global presence, with operations spanning North America, Europe, and Asia, with primary markets in North America and Europe. The company has a significant footprint in the United States and Canada, with McKesson Canada being a diversified healthcare services leader. In Europe, McKesson has been undergoing a strategic exit, completing the divestiture of its Norwegian retail and distribution businesses in January 2026, marking the final phase of its full exit from European operations. McKesson also has a presence in Australia and New Zealand, where its subsidiary McKesson ANZ develops and sells healthcare optimization services and software.

In the past year, McKesson's brand reputation has been influenced by its financial performance and strategic decisions, demonstrating strong operational execution and growth, particularly in oncology, biopharma services, and North American distribution. McKesson's Health Mart was honored with the H.A.B. Dunning Award from the American Pharmacists Association in January 2026. However, McKesson has faced significant controversies in the past, particularly concerning its involvement in the opioid crisis, with allegations of contributing to over-prescription and evading federal regulations, reaching a settlement to contribute $7.9 billion to address opioid-related issues in 2021. Despite strong stock performance, the company faces challenges such as declining gross margins and insider selling.

Hedge funds and various institutional investors hold a substantial 85.07% of McKesson Corporation's shares. As of January 31, 2026, seventeen brokerages cover the stock, with eleven issuing a "buy" rating, four a "hold" rating, and two a "strong buy" rating.