Is Wall Street Optimistic or Pessimistic About McKesson Shares?

Overview of McKesson Corporation

Headquartered in Irving, Texas, McKesson Corporation (MCK) is a leading distributor of pharmaceuticals, medical-surgical equipment, and health and beauty products, primarily serving the North American market. With a market capitalization of $114.5 billion, McKesson operates through four main divisions: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International.

Stock Performance Highlights

Over the past year, McKesson’s stock has significantly outpaced the broader market. MCK shares have climbed 55.2% in the last 52 weeks and are up 14% year-to-date. In contrast, the S&P 500 Index ($SPX) has gained 11.8% over the same period and has seen a slight dip in 2026.

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Zooming in, McKesson has also outperformed the State Street Healthcare Select Sector SPDR ETF (XLV), which posted a 7.7% increase over the past year.

Recent Earnings and Analyst Outlook

Following its third-quarter 2026 earnings announcement on February 5, McKesson shares jumped 16.5%. The company reported revenue of $106.2 billion for the quarter, marking an 11.4% year-over-year increase and meeting analysts’ expectations. Adjusted earnings per share reached $9.34, surpassing Wall Street forecasts. McKesson projects its full-year earnings to fall between $38.80 and $39.20 per share.

For the fiscal year ending March 2026, analysts anticipate McKesson’s diluted EPS will rise 18.1% year-over-year to $39.03. The company has a strong track record of exceeding consensus earnings estimates for the past four quarters.

Among the 17 analysts covering McKesson, the consensus rating is “Strong Buy,” with 13 analysts recommending a strong buy and four suggesting a hold.

Analyst Ratings and Price Targets

On February 10, JP Morgan analyst Lisa Gill reiterated an "Overweight" rating on McKesson and increased the price target from $983 to $1,107. The average price target stands at $965.56, representing a 3.3% premium over current levels, while the highest target of $1,107 implies an 18.4% potential upside.