Stock Alert: McKesson Corp. (MCK) Shares Hit 52-Week High

(RTTNews) - Shares of drug distributor McKesson Corp. (MCK) reached a 52-week high of $161.93 today. The stock is currently trading at $158.55, up 23 cents or 0.15%.

As recently as on Feb. 4, the company reaffirmed its fiscal 2020 adjusted earnings guidance range of $14.60 - $14.80 per share, which was previously narrowed and raised from $14.00 - $14.60 on January 13, 2020.

Also, the company reported Q3 income from continuing operations of $247 million or $1.06 per share versus $527 million or $2.41 per share last year.

Adjusted earnings were $685 million or $3.81 per share versus $664 million or $3.40 per share in the prior year period. Analysts polled by Thomson Reuters expected earnings of $3.56 per share. Analysts' estimates typically exclude certain special items.

Revenues amounted to $59.2 billion, higher than the previous year's revenue of $56.2 billion.

"We delivered solid operating performance and we are pleased to report third-quarter adjusted earnings results ahead of our expectations," said Brian Tyler, chief executive officer. "McKesson's unwavering focus on strategic and operational execution is demonstrated in the adjusted operating profit growth we reported in the third quarter across our core operating segments..."