Updated: Friday, December 12, 2025 (U.S. market close)
McKesson Corporation (NYSE: MCK) ended the week on a steadier footing after an early-week dip, closing Friday at $813.80. The stock is still down roughly 9% from its late-November 52‑week high ($895.58 on Nov. 26), but it remains one of healthcare’s stronger large-cap performers in 2025 as investors continue to reward its specialty-drug and oncology momentum, capital returns, and portfolio reshaping narrative. [1]
Below is a detailed recap of what moved McKesson stock this week, the latest company and analyst developments, and the key catalysts traders are watching in the week ahead.
McKesson stock price today (Dec. 12, 2025): where MCK stands into the weekend
McKesson closed down 0.21% on Friday at $813.80, after trading between $812.00 and $826.00 during the session.
This week’s price action (Mon–Fri, Dec. 8–12):
- Monday (Dec. 8): MCK fell to $797.93 after hitting an intraday low near $789.96. [2]
- Tuesday (Dec. 9): A modest dip continued, with a close near $795.01.
- Wednesday (Dec. 10): A sharp rebound: +2.28% to $813.10, snapping a short losing streak. [3]
- Thursday (Dec. 11): Follow-through to $815.54.
- Friday (Dec. 12): Slight pullback to $813.80.
From Monday’s close to Friday’s close, MCK gained about 2%—a quiet but meaningful recovery that kept the stock above the psychological $800 area into the weekend. [4]
For broader context, MarketScreener data showed McKesson up about 42.79% year-to-date (as of Dec. 12). [5]
What’s driving McKesson stock right now: the biggest headlines from the past few days
1) A new Wall Street “starter pistol”: Barclays initiates coverage (Overweight)
One of the most notable fresh catalysts this week was Barclays initiating coverage of McKesson with an Overweight rating and a $960 price target (as reported by widely-circulated analyst-rating trackers). [6]
Why that matters: after McKesson’s powerful 2025 rally and a November peak, the stock’s early-December pullback left investors looking for confirmation that the longer-term thesis remains intact. A high-profile initiation can help re-anchor sentiment—especially when it arrives alongside a double‑digit upside target.
2) Price action + volume: the Wednesday rebound stood out
McKesson’s Dec. 10 rally was notable not just for the percentage gain, but also for the volume spike, which MarketWatch flagged as significantly above the stock’s 50‑day average. [7]
In plain terms: after multiple down sessions, buyers showed up decisively—often a sign that institutions are still willing to add exposure on dips, even as the stock consolidates below its highs.
3) Company fundamentals still anchored by “specialty + oncology”
While there wasn’t a major new earnings release this week, McKesson’s recent results and guidance continue to dominate investor framing—especially the company’s emphasis on oncology, multispecialty, and specialty-drug distribution as higher-growth, higher-value areas. [8]
4) Macro backdrop: the Fed cut rates and highlighted reserve-management purchases
Even for a defensive healthcare name, the macro environment can change how investors price “quality compounders.”
On Dec. 10, the Federal Reserve cut the federal funds target range by 0.25 percentage point (to 3.5%–3.75%) and stated it would initiate purchases of shorter-term Treasury securities as needed to maintain ample reserves. [9]
Separately, Reuters reported that the Fed planned to begin technical Treasury bill buying starting Dec. 12, framed as a liquidity-management move rather than a policy pivot. [10]
For McKesson, the takeaway is indirect but real: lower rate pressure and steadier liquidity conditions can support broader equity risk appetite—helping strong operators hold premium multiples.
The fundamental story: what McKesson last reported (and why it still matters for MCK stock)
McKesson’s most recent major corporate anchor remains its fiscal 2026 second-quarter results (reported Nov. 5), which showed strength in its core growth engines and another guidance raise.
Key highlights from the company’s earnings release:
- Revenue:$103.2B, up about 10% year-over-year. [11]
- Adjusted EPS:$9.86 (vs. $7.07 a year ago), up 39%. [12]
- Free cash flow:$2.2B in the quarter (operating cash flow $2.4B less capex). [13]
- Capital returns (first six months of fiscal 2026):$1.4B in share repurchases and $179M in dividends. [14]
- Guidance raised again: fiscal 2026 adjusted EPS raised by $0.30 to $38.35–$38.85. [15]
Segment momentum: the engines investors keep paying for
McKesson’s report also reinforced where the market believes the “multiple support” comes from:
- North American Pharmaceutical:$86.5B revenue (+8%), adjusted segment operating profit up 13%, helped by specialty-product distribution and new launches. [16]
- Oncology & Multispecialty:$12.0B revenue (+32%), with adjusted segment operating profit up 71%—a headline growth rate that stands out even in a strong year. [17]
- Prescription Technology Solutions:$1.4B revenue (+9%), with adjusted segment operating profit up 20%, driven by access solutions demand. [18]
This mix—massive scale in distribution plus faster-growing specialty platforms—helps explain why investors are often willing to treat McKesson as more than a “low-margin distributor.”
Analyst forecasts for McKesson stock: targets, ratings, and what’s changed lately
Analyst targets vary by source and methodology, but the direction of travel has been consistent: most coverage clusters in the “buy” camp, with targets generally above the current price.
Two widely cited consensus snapshots:
- MarketBeat lists a “Moderate Buy” consensus, with an average 12‑month target near $892.86 (about ~10% upside from the low‑$810s area). [19]
- Barclays’ initiation at Overweight with a $960 target adds another high-profile bullish marker into the mix. [20]
Separately, MarketScreener’s headlines also pointed to Deutsche Bank raising its target to $904 from $861 while keeping a Buy rating (headline listing). [21]
What analysts are implicitly betting on
When analysts keep targets elevated after a strong YTD run, they’re typically underwriting some combination of:
- Continued specialty-drug volume growth and oncology platform expansion
- Operating leverage and disciplined cost control
- Ongoing share repurchases
- Additional clarity (and potentially value-unlocking) around the Medical‑Surgical separation narrative (see below)
McKesson itself has also set higher-level expectations: at its September Investor Day, the company lifted fiscal 2026 adjusted EPS guidance (again) and raised its long-term adjusted EPS growth target to 13%–16%. [22]
Technical analysis: support, resistance, and momentum signals for MCK into next week
Technical signals are mixed—more “consolidation” than “breakout”—which fits the chart story: MCK is digesting a strong 2025 run and a late‑November peak.
As of Dec. 12 (daily timeframe), Investing.com’s technical dashboard showed:
- RSI(14): ~51.7 (Neutral) — neither overbought nor oversold. [23]
- Daily technical summary: “Sell” (with many moving-average signals tilted bearish). [24]
- Key moving averages: the 50‑day MA (~807) showed as supportive (Buy), while longer averages like the 100‑day and 200‑day were flagged as above price (Sell), reflecting the recent pullback from highs. [25]
Levels traders may watch next week
Using the same technical readouts and this week’s trading range:
- Near-term support: around $812–$815 (where the stock repeatedly traded), then ~$798–$800, and the week’s deeper low zone near $790. [26]
- Near-term resistance:$820–$826 (Friday’s high zone), then higher levels if momentum returns.
Investing.com’s pivot-point table also placed the classic pivot near $817 with nearby resistance in the $818–$822 area, aligning closely with this week’s observed ceilings. [27]
Week-ahead outlook (week of Dec. 15, 2025): what could move McKesson stock next
1) Macro catalysts: retail sales and CPI are on the calendar
McKesson doesn’t report earnings next week, so the biggest “known knowns” are macro releases that can sway index-level risk appetite.
Key scheduled U.S. releases include:
- Empire State Manufacturing Survey (NY Fed): Monday, Dec. 15 (scheduled release time shown via FRED calendars). [28]
- Advance Monthly Sales for Retail and Food Services:Tuesday, Dec. 16 (FRED calendar) — and the U.S. Census Bureau noted rescheduling of certain retail trade releases into mid‑December. [29]
- Consumer Price Index (CPI) for November 2025:Thursday, Dec. 18 at 8:30 a.m. ET, per the Bureau of Labor Statistics release schedule. [30]
Why MCK investors care: McKesson often trades as a steadier healthcare compounder, but big macro surprises can still trigger factor rotations (growth vs. value, defensives vs. cyclicals) that move the whole tape.
2) “Rates narrative” after the Fed’s December decision
With the Fed having cut rates and highlighted reserve-management purchases in its Dec. 10 statement, the market’s next move may be driven by whether incoming data supports further easing or argues for patience. [31]
This matters for McKesson mainly through:
- The market’s willingness to pay for predictable earnings compounding
- Appetite for low-beta defensives when volatility rises (McKesson’s beta is often cited as relatively low) [32]
3) Company-specific catalysts: quieter week, but the strategic drumbeat continues
McKesson has flagged upcoming investor participation and conferences in recent materials, including the J.P. Morgan Healthcare Conference (Jan. 12–15, 2026)—often a key “messaging” moment for healthcare leadership teams. [33]
In the near term, the market focus remains on:
- Execution against the oncology + specialty growth plan
- Updates on the Medical‑Surgical Solutions separation (announced as an intended separation earlier in 2025) [34]
The bull case vs. bear case: what investors are debating into year-end
Bull case for MCK stock
- Specialty + oncology remain durable growth engines (recent segment growth rates are hard to ignore). [35]
- Guidance is trending up, not down—McKesson has raised fiscal 2026 adjusted EPS guidance multiple times in 2025. [36]
- Ongoing share repurchases support EPS and downside resilience. [37]
- Fresh coverage initiations and target raises (e.g., Barclays) help support sentiment after the pullback from highs. [38]
Bear case / key risks
- Valuation and expectations: after a strong 2025 run, McKesson may have less tolerance for even small execution misses. [39]
- Drug-pricing and reimbursement pressures can ripple through the distribution ecosystem, influencing sentiment even when McKesson executes well operationally. [40]
- Legal/regulatory overhangs remain part of the distributor landscape, including opioid-related litigation developments involving major distributors (even when not immediately company-specific week to week). [41]
- Technical setup is mixed (neutral RSI, some moving averages flashing “Sell”), suggesting the stock may need a catalyst to break above resistance. [42]
Bottom line: McKesson stock heading into next week
McKesson stock enters mid‑December with a clear near-term identity: a high-quality healthcare compounder in consolidation mode, still backed by rising guidance, strong oncology/specialty performance, and continued capital returns—while digesting a post‑high pullback and watching macro risk closely.
If MCK can hold above $800 and reclaim the $820–$826 zone early next week, bulls will argue the consolidation is resolving upward. If it breaks below the low‑$800s with macro volatility rising, the market may test the deeper support zones carved out on Dec. 8–9. [43]
References
1. www.marketwatch.com, 2. www.marketwatch.com, 3. www.marketwatch.com, 4. www.marketwatch.com, 5. www.marketscreener.com, 6. www.benzinga.com, 7. www.marketwatch.com, 8. www.mckesson.com, 9. www.federalreserve.gov, 10. www.reuters.com, 11. www.mckesson.com, 12. www.mckesson.com, 13. www.mckesson.com, 14. www.mckesson.com, 15. www.mckesson.com, 16. www.mckesson.com, 17. www.mckesson.com, 18. www.mckesson.com, 19. www.marketbeat.com, 20. www.benzinga.com, 21. www.marketscreener.com, 22. www.mckesson.com, 23. www.investing.com, 24. www.investing.com, 25. www.investing.com, 26. www.investing.com, 27. www.investing.com, 28. fred.stlouisfed.org, 29. fred.stlouisfed.org, 30. www.bls.gov, 31. www.federalreserve.gov, 32. www.marketbeat.com, 33. www.mckesson.com, 34. www.reuters.com, 35. www.mckesson.com, 36. www.mckesson.com, 37. www.mckesson.com, 38. www.benzinga.com, 39. www.marketscreener.com, 40. www.reuters.com, 41. www.reuters.com, 42. www.investing.com, 43. www.investing.com
