McKesson Stock Gains 18% YTD: What’s Driving the Rally?
McKesson (NYSE: MCK) is witnessing strong momentum, with its shares having rallied 18.3% year to date compared with 0.6% growth of the industry. The S&P 500 Composite has risen 16.5% during the same time frame.
With healthy fundamentals and strong growth opportunities, this Zacks Rank #3 (Hold) company appears to be a solid wealth creator for its investors at the moment.
Headquartered in San Francisco, CA, McKesson is a healthcare services and information technology company with two operating segments — Distribution Solutions and Technology Solutions. The first segment distributes branded and generic pharmaceutical drugs, along with other healthcare-related products, on a global basis. It also provides practice management, technology, clinical support and business solutions. The second segment offers enterprise-wide clinical, patient care, financial, supply chain and strategic management software solutions.
Image Source: Zacks Investment Research
Catalysts Driving Growth
The rally in MCK’s shares can be attributed to the strength of its robust U.S. Pharmaceutical business. This optimism, led by a solid first-quarter performance and increasing demand for healthcare, is expected …
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