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MarketScreener Homepage  >  Equities  >  Nyse  >  McKesson Corporation    MCK

MCKESSON CORPORATION

(MCK)
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McKesson Assumes No Second Wave of Covid-19 Cases In Planning for Fiscal Year

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05/20/2020 | 08:31am EDT

By Micah Maidenberg

 

McKesson Corp., a distributor of pharmaceuticals and medical supplies, said it built its financial forecast for fiscal 2021 under the assumption that a second wave of Covid-19 cases won't materialize.

The company said Wednesday in an investor presentation that its outlook for its 2021 reporting year assumes there won't be another rise in cases of the disease caused by the coronavirus that would lead "to shelter at home scenarios precluding patient consumption of healthcare services, supplies and pharmaceutical products."

The spread of the coronavirus in the U.S. kept consumers at home, putting pressure on patient visits to doctors and prescription growth, according to some companies that tie their business to prescriptions.

"We assume physician, specialty provider and oncology visits, and pharmacy interactions will gradually begin to resume in Q2 FY21, and continue to improve in the back-half of the fiscal year," McKesson said on Wednesday.

Overall, it expects adjusted earnings per share of no more than $14.75, which would be down from $14.95 a share for the year ended March 31. The company also sees slower revenue growth of 2% to 4% for the year, down from 8%.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
HEALTHCARE SERVICES GROUP, INC. -0.82% 24.3 Delayed Quote.-0.08%
LINE CORPORATION 1.83% 5570 End-of-day quote.4.11%
MCKESSON CORPORATION 1.21% 152.73 Delayed Quote.10.42%
RISE, INC. 6.90% 31 End-of-day quote.3.33%
THE LEAD CO., INC. -1.39% 356 End-of-day quote.-8.72%
THE NEW HOME COMPANY INC. 0.63% 3.2 Delayed Quote.-31.33%
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Financials (USD)
Sales 2021 236 B - -
Net income 2021 1 870 M - -
Net Debt 2021 2 045 M - -
P/E ratio 2021 13,2x
Yield 2021 1,12%
Capitalization 24 760 M 24 760 M -
EV / Sales 2020
EV / Sales 2021 0,11x
Nbr of Employees 70 000
Free-Float 59,5%
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 171,18 $
Last Close Price 152,73 $
Spread / Highest target 27,0%
Spread / Average Target 12,1%
Spread / Lowest Target -3,75%
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Managers
NameTitle
Brian Scott Tyler Chief Executive Officer & Director
Edward A. Mueller Chairman
Britt Vitalone Chief Financial Officer & Executive Vice President
Nancy Flores EVP, Chief Technology & Information Officer
M. Christine Jacobs Independent Director
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