McKesson Slides 3.1% as Investors Digest Medical-Surgical Financing and IPO Prep

McKesson Corporation (MCK) is down 3.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver appears to be investor digestion of McKesson’s ongoing Medical-Surgical Solutions separation, including new financing tied to that carve-out, rather than a fresh deterioration in the core business. With no clear new operating warning visible, the drop could also reflect profit-taking after a strong earnings report and upbeat fiscal 2027 outlook last month.

Details:

McKesson’s latest quarterly results showed fiscal fourth-quarter revenue of $96.3 billion, adjusted EPS of $11.69, and new fiscal 2027 adjusted EPS guidance of $43.80 to $44.60, pointing to continued operating strength.

The company recently closed Apollo’s minority investment in Medical-Surgical Solutions, with the transaction valuing that business at about $13 billion and positioning it for a future public listing.

A recent filing also disclosed a new $2.25 billion senior secured term loan maturing in 2032 for the Medical-Surgical unit, adding leverage and likely drawing extra scrutiny as investors evaluate the separation structure.

Because the recent headlines were mostly about financing and transaction execution rather than business performance, today’s decline could be because the market is reassessing deal-related risks, timing, and valuation after a strong run in the stock.

Sources:

McKesson, SEC, Bloomberg Law

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$MCK Insider Trading Activity

$MCK insiders have traded $MCK stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

Here’s a breakdown of recent trading of $MCK stock by insiders over the last 6 months:

MICHELE LAU (EVP and Chief Legal Officer) has made 0 purchases and 3 sales selling 6,578 shares for an estimated $5,682,436.
BRIAN S. TYLER (Chief Executive Officer) sold 4,929 shares for an estimated $3,760,827
THOMAS L RODGERS (EVP, Chief Strategy & BDO) has made 0 purchases and 4 sales selling 3,486 shares for an estimated $2,647,168.
LEANN B SMITH (EVP & Chief HR Officer) has made 0 purchases and 2 sales selling 2,000 shares for an estimated $1,510,805.
NAPOLEON B JR RUTLEDGE (SVP, Controller & CAO) has made 0 purchases and 2 sales selling 461 shares for an estimated $414,852.
MARIA MARTINEZ sold 349 shares for an estimated $328,012

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$MCK Hedge Fund Activity

We have seen 900 institutional investors add shares of $MCK stock to their portfolio, and 952 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 1,157,872 shares (-72.4%) from their portfolio in Q4 2025, for an estimated $949,790,822
PACER ADVISORS, INC. removed 562,998 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $461,821,629
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ removed 545,890 shares (-15.8%) from their portfolio in Q1 2026, for an estimated $472,391,370
BARCLAYS PLC added 437,711 shares (+159.1%) to their portfolio in Q1 2026, for an estimated $378,777,590
FMR LLC added 398,301 shares (+12.4%) to their portfolio in Q1 2026, for an estimated $344,673,753
LONE PINE CAPITAL LLC added 392,224 shares (+inf%) to their portfolio in Q1 2026, for an estimated $339,414,960
GOLDMAN SACHS GROUP INC added 378,655 shares (+40.9%) to their portfolio in Q1 2026, for an estimated $327,672,890

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$MCK Government Contracts

We have seen $11,197,823,513 of award payments to $MCK over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

EXPRESS REPORT: PHARMACEUTICAL PRIME VENDOR (PPV)FY2026 APRIL: $1,191,348,080
EXPRESS REPORT: PHARMACEUTICAL PRIME VENDOR (PPV)FY2026 OCTOBER: $1,184,200,532
EXPRESS REPORT: PHARMACEUTICAL PRIME VENDOR (PPV)FY2026 MARCH: $1,175,683,450
EXPRESS REPORT: PHARMACEUTICAL PRIME VENDOR (PPV)FY2025 JULY: $1,118,034,560

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$MCK Congressional Stock Trading

Members of Congress have traded $MCK stock 5 times in the past 6 months. Of those trades, 3 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $MCK stock by members of Congress over the last 6 months:

REPRESENTATIVE LIZZIE FLETCHER sold up to $15,000 on 04/08.
SENATOR MARKWAYNE MULLIN has traded it 3 times. They made 3 purchases worth up to $150,000 on 02/04, 01/05 and 0 sales.
REPRESENTATIVE GILBERT RAY CISNEROS, JR. sold up to $15,000 on 12/19.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$MCK Analyst Ratings

Wall Street analysts have issued reports on $MCK in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

William Blair issued a "Outperform" rating on 04/28/2026

To track analyst ratings and price targets for $MCK, check out Quiver Quantitative's $MCK forecast page.

$MCK Price Targets

Multiple analysts have issued price targets for $MCK recently. We have seen 9 analysts offer price targets for $MCK in the last 6 months, with a median target of $945.0.

Here are some recent targets:

Glen Santangelo from Barclays set a target price of $925.0 on 06/10/2026
Daniel Grosslight from Citigroup set a target price of $945.0 on 05/14/2026
Stephen Baxter from Wells Fargo set a target price of $812.0 on 05/12/2026
Elizabeth Anderson from Evercore ISI Group set a target price of $850.0 on 05/08/2026
Lisa Gill from JP Morgan set a target price of $1015.0 on 05/08/2026
Kevin Caliendo from UBS set a target price of $1050.0 on 05/08/2026
Michael Cherny from B of A Securities set a target price of $1000.0 on 04/06/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.