New York, February 6, 2026, 09:55 EST — Regular session
- McKesson shares held steady early Friday after jumping 16.5% in the last session
- Following a strong quarterly performance, the company boosted its adjusted profit outlook for fiscal 2026
- Focus shifts to momentum in specialty drugs and the forthcoming medical-surgical split
McKesson (MCK) slipped about 0.1% to $956.71 in early New York trade Friday, after surging 16.5% the previous session. Today’s range so far has been between $954.50 and $971.49, data show.
Drug distributors continue to command investor attention, quietly attracting funds as demand grows for costly specialty drugs targeting cancer and chronic diseases. Cardinal Health boosted its full-year forecast Thursday, sending its stock up and underscoring how swiftly sentiment can shift when firms revise guidance.
McKesson, the leading pharmaceutical distributor in the U.S., raised its fiscal 2026 adjusted earnings guidance to $38.80-$39.20 per share, up from the prior $38.35-$38.85 range, after reporting quarterly results that beat Wall Street expectations. CEO Brian Tyler attributed the improvement to the “strength of our core distribution businesses.” The company also confirmed it plans to spin off its medical-surgical unit, targeting an IPO in the second half of 2027. Reuters
During the earnings call, CFO Britt Vitalone noted the company “delivered strong operational execution,” which helped reduce operating expenses as a percentage of gross profit. McKesson also recorded a GAAP-only pretax credit of $160 million tied to Rite Aid’s bankruptcy. The company flagged $14 billion in GLP-1 distribution revenue for the quarter—a fast-growing area, though one known for its quarter-to-quarter swings. The Motley Fool
On Feb. 5, McKesson filed an automatic shelf registration statement (Form S-3ASR) with the SEC, clearing the path to sell securities later on.
TD Cowen’s Charles Rhyee kept his Buy rating on McKesson but raised the price target to $1,012, according to GuruFocus.
Mizuho’s Steven Valiquette maintained a Neutral rating on the stock but lifted his target price to $885, according to GuruFocus.
McKesson’s fiscal third-quarter revenue rose 11% to $106.2 billion, with adjusted earnings hitting $9.34 per share. Operating cash flow came in at $1.2 billion, and free cash flow after capital spending was $1.1 billion. The company returned $781 million to shareholders through buybacks and dividends during the quarter. McKesson also confirmed it will present at healthcare conferences this March, including Leerink from March 8-11 and Barclays from March 10-12.
The medical-surgical segment is proving somewhat unpredictable. A drop in seasonal illness cases has cut demand from physician offices, muddling the run-rate right as McKesson prepares to spin off that unit.
