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McKesson Corporation
Formerly called
Olcott & McKesson
(1833–1853)
McKesson & Robbins (1853–1999)
McKessonHBOC
(1999–2001)
Type
Public
Traded as NYSE: MCK
S&P 500 Component
Industry Healthcare
Founded New York City, United States
1833; 184 years ago (1833)
Founder John McKesson
Charles Olcott
Headquarters San Francisco, California, U.S.
Key people
John Hammergren
(Chairman and CEO)
Products Pharmaceuticals
Medical technology
Health care services
Revenue IncreaseUS$190.8 billion (2016)
Operating income
IncreaseUS$3.54 billion (2016)
Net income
IncreaseUS$2.25 billion (2016)
Total assets IncreaseUS$56.52 billion (2016)
Total equity IncreaseUS$8.92 billion (2016)
Number of employees
68,000 (2016)
Subsidiaries Rexall Pharmacy Group
Health Mart
Website www.mckesson.com

McKesson Corporation is an American company distributing pharmaceuticals at a retail sale level and providing health information technology, medical supplies, and care management tools. The company had revenues of $198.5 billion in 2017.

McKesson is based in the United States and distributes health care systems, medical supplies and pharmaceutical products. Additionally, McKesson provides extensive network infrastructure for the health care industry; also, it was an early adopter of technologies like bar-code scanning for distribution, pharmacy robotics, and RFID tags.

It is a Fortune Global 500 company, and the 5th highest revenue generating company in the United States.

Founded in New York City as Charles M. Olcott in 1828 and later as Olcott, McKesson & Co. by Charles Olcott and John McKesson in 1833, the business began as an importer and wholesaler of botanical drugs. A third partner, Daniel Robbins joined the enterprise as it grew, and it was renamed McKesson & Robbins following Olcott's death in 1853.

The company successfully emerged from one of the most notorious business/accounting scandals of the 20th century—the McKesson & Robbins scandal, a watershed event that led to major changes in American auditing standards and securities regulations after being exposed in 1938. In the 1960s, McKesson & Robbins merged with Foremost Dairies of San Francisco to form Foremost-McKesson Inc.

Since the mid-20th century, McKesson has derived an increasing proportion of its income from medical technology, rather than pharmaceuticals. This culminated in its purchase of medical information systems firm HBO & Company (HBOC) in 1999; the combined firm was briefly known as McKessonHBOC. Accounting irregularities at HBOC reduced the company's share price by half, and resulted in the dismissal and prosecution of many HBOC executives. The firm's name reverted to "McKesson" in 2001. McKesson Technology Solutions, as the information technology branch of the company is now known, has continued to increase its market share through acquisitions, notably Per Se Technologies, RelayHealth, and Practice Partner.

In 2010, McKesson acquired leading cancer services company US Oncology, Inc. for $2.16 billion, which was integrated into the McKesson Specialty Care Solutions business.

On June 24, 2013, The Wall Street Journal reported that McKesson Chairman and CEO John Hammergren's pension benefits of $159 million had set a record for "the largest pension on file for a current executive of a public company, and almost certainly the largest ever in corporate America." A study in 2012 by GMI Ratings, which tracks executive pay, found that 60% of CEOs at S&P 500 companies have pensions, and their value averages $11.5 million.

In addition to its offices throughout North America, McKesson also has international offices in Australia, Ireland, France, the Netherlands, and the United Kingdom. Today, McKesson is one of the oldest continually operating businesses in the United States.

As of August 23, 2016, McKesson has decided to merge a majority of its IT business with Change Healthcare.

In 2017, McKesson was involved in a number of lawsuits against the state of Arkansas over the supply of vecuronium bromide. McKesson was under contract by Pfizer not to sell to any correctional facility that authorized and carried out Capital punishment.

McKesson Provider Technologies is the retail name for McKesson Technology Solutions; the software development division of McKesson. Their customer base in the United States includes 50% of all health systems, 20% of all physician practices, 25% of home care agencies, and 77% of health systems with more than 200 beds.

On June 20, 2005, McKesson Provider Technologies acquired Medcon, Ltd., an Israeli company which provides Web-based cardiac image and information management solutions for heart centers, that includes: diagnostic digital image management, archiving, procedure reporting, and workflow management.

In October 2013, McKesson agreed to buy a 50% stake in German peer Celesio for $8.3 billion.

Health Mart is a network of over 4,000 independently owned and operated pharmacies. It is a wholly owned subsidiary of McKesson Corporation, which owns the name "Health Mart." McKesson acquired Health Mart owner FoxMeyer in 1996.

In 1991, McKesson Corporation acquired a 100 percent interest in Medis Health and Pharmaceutical Services from Provigo. In 2002, the McKesson Canada name was adopted. McKesson Canada is a wholly owned subsidiary of McKesson Corporation. It includes various business units: McKesson Pharmaceutical, McKesson Automation, McKesson Specialty, McKesson Health Solutions and McKesson Information Solutions.

In March 2016, McKesson agreed to purchase Canadian pharmacy chain Rexall from the Katz Group of Companies for $3 billion. The proposed deal is subject to government approval.

In the United Kingdom, McKesson (operating as McKesson Information Solutions UK Ltd) was a provider of information technology services to the health care industry. In addition to numerous clinical software systems and finance and procurement services, McKesson also was responsible for developing the Electronic Staff Record system for the National Health Service which provided an integrated payroll system for NHS's 1.3 million staff, making it the world’s largest single payroll IT system. McKesson Shared Services also provided payroll services for over 20 NHS Trusts, paying over 100,000 NHS members.

McKesson's United Kingdom base was in Warwick with data centers in Newcastle upon Tyne and Brent Cross and offices in Sheffield, Bangor, Glasgow and Vauxhall, London. Across the United Kingdom, it employed over 500 people.

In June/July 2014 McKesson sold most of their healthcare software business to the private equity firm Symphony Technology Group and indicated also that they would not be re-bidding for the Electronic Staff Record contract. This came after the company had posted significant year on year losses in revenue (16% in the 2012/13 financial year) after taking over a very successful British operation in 2011.

In 2010, McKesson Asia-Pacific was acquired by Medibank Private Ltd.

McKesson ANZ is a fully owned subsidiary of McKesson Corporation. McKesson expanded its footprint in Australia and New Zealand by acquiring Emendo in November, 2012. McKesson ANZ develops and sells healthcare optimization services and software. The company has traditionally been focused on the public markets in Australia and New Zealand. The majority of the District Health Boards in NZ use one or more of McKesson’s Capacity Management solutions.

Christchurch, New Zealand, is one of McKesson’s global Capacity Management R&D centers of excellence. All of McKesson’s R&D for McKesson Capacity Planner is performed in New Zealand. The company employs approximately 40 team members across Australia and New Zealand including general management, R&D, sales, services and support employees.

McKesson Capacity Planner (formerly Emendo CapPlan) is used in more than 40 hospitals in Australia, New Zealand, Britain, Canada and the US to forecast future patient activity and help health systems to allocate resources efficiently and identify unnecessary costs.

In addition to its global headquarters in San Francisco, California, McKesson maintains facilities around North America.

McKesson operated the Mosswood Wine Company from 1978 until 1987, when the division was sold to maintain their focus on pharmaceuticals. The division was founded and run by wine writer Gerald Asher.

News

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2021 2021-05-18 Future report Set alerts
Q3 2021 2021-02-02 4.60 4.60
Q2 2021 2020-11-03 4.80 4.80
Q1 2021 2020-08-03 2.77 2.77
Q4 2020 2020-05-20 4.27 4.27
Q3 2020 2020-02-04 3.81 3.81
Q2 2020 2019-10-30 3.60 3.60
Q2 2019 2019-08-03 2.50 5.74
Q1 2020 2019-07-31 3.31 3.31
Q4 2019 2019-05-08 3.69 3.69

Ratings

2016-07-06 Reiterated Rating Avondale Partners Market Perform $172.00 to $197.00
2016-06-30 Reiterated Rating JPMorgan Chase & Co. Buy
2016-06-30 Reiterated Rating Bank of America Hold
2016-06-30 Reiterated Rating Bank of America Corp. Hold
2016-06-29 Reiterated Rating FBR & Co. Buy $210.00
2016-06-29 Reiterated Rating Robert W. Baird Buy $220.00
2016-06-29 Reiterated Rating FBR & Co Buy $210.00
2016-06-22 Reiterated Rating FBR & Co. Buy
2016-06-08 Initiated Coverage Bank of America Hold
2016-06-07 Reiterated Rating Bank of America Neutral
2016-06-07 Reiterated Rating Mizuho Neutral $164.00 to $174.00
2016-06-04 Reiterated Rating FBR & Co. Buy
2016-06-01 Downgrade Raymond James Strong-Buy to Outperform
2016-06-01 Downgrade Raymond James Financial Inc. Strong-Buy to Outperform
2016-05-31 Reiterated Rating Morgan Stanley Buy
2016-05-16 Reiterated Rating Credit Suisse Hold
2016-05-16 Reiterated Rating Credit Suisse Group AG Hold
2016-05-05 Reiterated Rating Leerink Swann Buy $200.00
2016-05-05 Downgrade Avondale Partners Outperform to Market Perform $203.00 to $172.00
2016-04-26 Downgrade Standpoint Research Buy to Hold
2016-04-18 Initiated Coverage Avondale Partners Outperform $203.00
2016-04-15 Reiterated Rating Goldman Sachs Buy $188.00
2016-04-15 Reiterated Rating Goldman Sachs Group Inc. Buy $188.00
2016-03-17 Reiterated Rating FBR & Co. Outperform
2016-03-16 Reiterated Rating Deutsche Bank Buy
2016-03-16 Reiterated Rating Deutsche Bank AG Buy
2016-03-15 Downgrade Cowen and Company Outperform to Market Perform $208.00 to $173.00
2016-03-15 Initiated Coverage Credit Suisse Neutral $175.00
2016-03-11 Reiterated Rating RBC Capital Buy
2016-03-11 Reiterated Rating Royal Bank Of Canada Buy
2016-03-01 Downgrade Mizuho Buy to Neutral $193.00 to $164.00
2016-02-26 Reiterated Rating FBR & Co. Buy
2016-02-10 Reiterated Rating Deutsche Bank Buy
2016-02-10 Upgrade Standpoint Research Hold to Buy $184.00
2016-01-29 Lower Price Target Leerink Swann Outperform $250.00 to $200.00
2016-01-27 Reiterated Rating Deutsche Bank Buy $200.00 to $199.00
2016-01-15 Reiterated Rating Barclays Overweight $220.00 to $211.00
2016-01-15 Lower Price Target Mizuho Buy $210.00 to $193.00
2016-01-15 Reiterated Rating Barclays PLC Overweight $220.00 to $211.00
2016-01-14 Reiterated Rating FBR & Co. Buy
2016-01-12 Lower Price Target Deutsche Bank Buy $234.00 to $200.00
2016-01-12 Lower Price Target FBR & Co. Outperform $240.00 to $210.00
2016-01-12 Lower Price Target Robert W. Baird $239.00 to $195.00
2016-01-12 Lower Price Target Goldman Sachs $214.00 to $191.00
2016-01-12 Downgrade Raymond James Outperform to Market Perform
2016-01-12 Lower Price Target RBC Capital Outperform $220.00 to $190.00
2016-01-06 Downgrade Raymond James Strong-Buy to Outperform $225.00
2015-11-04 Downgrade Goldman Sachs Conviction-Buy to Buy $241.00 to $210.00
2015-11-02 Lower Price Target Credit Suisse $263.00 to $220.00
2015-11-02 Lower Price Target Barclays Overweight $245.00 to $220.00
2015-11-01 Reiterated Rating Deutsche Bank Buy
2015-10-30 Lower Price Target RBC Capital $231.00 to $210.00
2015-10-30 Lower Price Target Robert W. Baird $260.00 to $239.00
2015-10-27 Reiterated Rating Mizuho Buy $275.00 to $210.00
2015-10-21 Lower Price Target Cowen and Company $254.00 to $237.00
2015-10-12 Reiterated Rating Deutsche Bank Buy
2015-09-21 Reiterated Rating Mizuho Buy $275.00
2015-08-28 Lower Price Target Raymond James Strong-Buy $265.00 to $245.00
2015-07-31 Reiterated Rating S&P Equity Research Buy $268.00
2015-07-30 Reiterated Rating FBR & Co. Outperform $250.00 to $253.00
2015-05-14 Reiterated Rating Leerink Swann Outperform $240.00 to $250.00
2015-05-14 Reiterated Rating Credit Suisse Outperform $255.00 to $263.00
2015-05-14 Reiterated Rating Cowen and Company Outperform $234.00 to $252.00
2015-05-14 Reiterated Rating Mizuho Buy $240.00 to $275.00
2015-05-13 Boost Price Target Deutsche Bank Buy $241.00 to $253.00
2015-05-13 Boost Price Target Barclays Overweight $244.00 to $245.00
2015-05-13 Boost Price Target Robert W. Baird Outperform $250.00 to $260.00
2015-05-13 Set Price Target FBR & Co. Buy $245.00 to $250.00
2015-03-19 Boost Price Target JPMorgan Chase & Co. Overweight $247.00 to $251.00
2015-03-19 Reiterated Rating Deutsche Bank Buy $248.00 to $241.00
2015-02-06 Reiterated Rating Mizuho Buy $220.00 to $240.00
2015-01-08 Boost Price Target Barclays Overweight $223.00 to $244.00
2015-01-08 Boost Price Target JPMorgan Chase & Co. Overweight $240.00 to $247.00
2014-12-29 Set Price Target Bank of America Buy $216.00 to $230.00
2014-12-23 Boost Price Target FBR & Co. Buy $210.00 to $223.00
2014-11-24 Reiterated Rating FBR & Co. Outperform
2014-10-29 Boost Price Target Mizuho Buy $214.00 to $220.00
2014-10-29 Reiterated Rating JPMorgan Chase & Co. Overweight $216.00 to $240.00
2014-10-29 Reiterated Rating Deutsche Bank Buy $203.00 to $208.00
2014-10-16 Initiated Coverage RBC Capital Outperform $240.00
2014-10-08 Initiated Coverage Citigroup Inc. Buy
2014-09-29 Initiated Coverage Barclays Overweight $223.00
2014-08-04 Reiterated Rating Credit Suisse Outperform $200.00 to $220.00
2014-08-01 Boost Price Target Leerink Swann $205.00 to $220.00
2014-08-01 Upgrade Bank of America Neutral to Buy $172.00 to $215.00
2014-07-31 Boost Price Target Mizuho Buy $205.00 to $214.00
2014-07-31 Boost Price Target FBR & Co. Outperform $200.00 to $210.00
2014-07-01 Boost Price Target Raymond James $210.00 to $220.00
2014-06-26 Boost Price Target Mizuho Buy $199.00 to $205.00
2014-06-26 Reiterated FBR Capital Outperform $192 to $200
2014-06-26 Reiterated Rating Morgan Stanley Overweight $197.00 to $205.00
2014-06-26 Boost Price Target FBR & Co. Outperform $192.00 to $200.00
2014-06-26 Boost Price Target Robert W. Baird $198.00 to $205.00
2014-05-13 Reiterated Rating JPMorgan Chase & Co. Overweight $210.00 to $215.00
2014-05-13 Reiterated Rating Morgan Stanley Overweight
2014-05-13 Reiterated Rating Bank of America Underperform $160.00 to $165.00
2014-05-13 Lower Price Target Evercore ISI Neutral $212.00 to $204.00
2014-04-09 Lower Price Target FBR & Co. $201.00 to $192.00
2014-03-12 Upgrade Goldman Sachs Buy to Conviction-Buy $208.00 to $215.00
2014-03-03 Boost Price Target Mizuho Buy $194.00 to $199.00
2014-02-19 Initiated Coverage Goldman Sachs Buy
2014-02-07 Initiated Coverage JPMorgan Chase & Co. Overweight
2014-01-31 Reiterated ISI Group Strong Buy $195 to $203
2014-01-31 Boost Price Target Sterne Agee CRT $185.00 to $203.00
2014-01-31 Boost Price Target Leerink Swann $180.00 to $205.00
2014-01-31 Boost Price Target Cowen and Company $193.00 to $215.00
2014-01-31 Boost Price Target Robert W. Baird $191.00 to $200.00
2014-01-31 Boost Price Target FBR & Co. Outperform $182.00 to $202.00
2014-01-31 Boost Price Target Evercore ISI Strong-Buy $195.00 to $203.00
2014-01-24 Boost Price Target Deutsche Bank Buy $181.00 to $193.00
2014-01-24 Reiterated Rating FBR & Co. Positive
2014-01-14 Reiterated Rating Morgan Stanley Overweight $190.00 to $180.00
2014-01-13 Boost Price Target B. Riley Neutral $190.00
2014-01-06 Upgrade Raymond James Outperform to Strong-Buy
2013-12-26 Reiterated Rating Deutsche Bank Buy $181.00
2013-11-20 Initiated Coverage Deutsche Bank Buy $181.00
2013-11-18 Boost Price Target Mizuho Buy $167.00 to $190.00
2013-11-18 Reiterated Rating FBR & Co. Buy $182.00
2013-10-29 Initiated Coverage FBR & Co. Outperform $182.00
2013-10-28 Boost Price Target B. Riley Neutral $162.00
2013-10-25 Boost Price Target Raymond James Outperform $155.00 to $170.00
2013-10-25 Boost Price Target Cowen and Company Outperform $138.00 to $173.00
2013-10-25 Reiterated Rating Robert W. Baird Positive
2013-10-25 Upgrade Morgan Stanley Equal Weight to Overweight $177.00
2013-10-25 Boost Price Target Mizuho Buy $130.00 to $167.00
2013-10-24 Boost Price Target Sterne Agee CRT Buy $164.00 to $174.00
2013-10-24 Upgrade Evercore ISI Buy to Strong-Buy
2013-10-24 Downgrade Bank of America Underperform
2013-10-24 Upgrade Leerink Swann Market Perform to Outperform
2013-10-14 Reiterated Rating Sterne Agee CRT Buy $164.00
2013-10-14 Boost Price Target Evercore ISI Buy $135.00 to $152.00
2013-10-09 Upgrade Raymond James Market Perform to Outperform $155.00
2013-10-01 Reiterated Rating Sterne Agee CRT Buy $164.00
2013-10-01 Boost Price Target Robert W. Baird Outperform $135.00 to $150.00
2013-09-18 Initiated Coverage Sterne Agee CRT Buy $164.00
2013-06-27 Reiterated Mizuho Buy $116 to $126
2013-05-08 Reiterated ISI Group Buy $118.50 to $122
2013-01-29 Reiterated Mizuho Buy $101 to $120
2016-07-06 Reiterated Rating Avondale Partners Market Perform $172.00 to $197.00
2016-06-30 Reiterated Rating JPMorgan Chase & Co. Buy
2016-06-30 Reiterated Rating Bank of America Hold
2016-06-30 Reiterated Rating Bank of America Corp. Hold
2016-06-29 Reiterated Rating FBR & Co. Buy $210.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Spratt Randall N EVP, CTO & CIO 0.01%  (30137) IMPV / MCK /
JULIAN PAUL C EVP, Group President 0.01%  (29046) MCK /
BEER JAMES A EVP & Chief Financial Officer 0.01%  (22152) ALK / MCK / SYMC /
Figueredo Jorge EVP, Human Resources 0.01%  (16380) MCK /

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