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McKesson Corporation (NYSE:MCK)’s stock has reached an unprecedented peak, setting an all-time high of $726.13. This milestone underscores the company’s robust performance and investor confidence, with a remarkable 34.7% return over the past year. According to InvestingPro data, the company’s market capitalization now stands at $89.6 billion, supported by strong revenue growth of 14.3% in the last twelve months. The healthcare services and information technology company has been experiencing a bullish trend, outpacing many of its competitors and rewarding its shareholders with substantial gains, including an impressive 48% return over the past six months. InvestingPro analysis indicates the stock is currently trading near Fair Value, with a "GREAT" overall financial health score. This all-time high represents a culmination of strategic initiatives and market conditions that have favored McKesson’s business model, positioning it as a leader in its sector. InvestingPro subscribers have access to 15 additional valuable insights about McKesson’s current market position and future potential.
In other recent news, McKesson Corporation reported third-quarter earnings and revenue that did not meet analyst expectations, with adjusted earnings per share at $8.03, below the forecast of $8.27. Revenue for the quarter was $95.29 billion, an 18% increase year-over-year, yet still short of the anticipated $95.77 billion. Despite the earnings miss, McKesson raised its full-year adjusted EPS guidance to a range of $32.55 to $32.95, slightly above the consensus midpoint. Additionally, McKesson finalized the acquisition of Prism Vision for $850 million and is nearing completion of a $2.5 billion acquisition of Florida Cancer Specialists.
Analysts from Mizuho (NYSE:MFG) have adjusted their financial outlook for McKesson, raising the price target to $690 while maintaining a Neutral rating. Meanwhile, Morgan Stanley (NYSE:MS) increased its price target to $745 and maintained an Overweight rating, expressing confidence in McKesson’s strong market positioning and growth prospects. S&P Global Ratings revised McKesson’s outlook to positive, affirming its ’BBB+’ rating, highlighting anticipated growth in the U.S. pharmaceutical segment and prescription technology business.
Citi analysts raised McKesson’s stock price target to $685, noting a strong performance in the pharmaceutical segment, despite challenges in the Med-Surg division. McKesson’s U.S. Pharmaceutical (TADAWUL:2070) segment saw a 19% revenue increase, driven by higher prescription volumes and growth in the oncology platform. The company also announced plans to acquire an 80% controlling interest in PRISM Vision Holdings, aligning with its strategy to expand specialty services.
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