McKesson (NYSE:MCK) Raised to Strong-Buy at StockNews.com

McKesson (NYSE:MCK) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other research analysts also recently weighed in on the company. Mizuho raised their price target on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Argus increased their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley boosted their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Citigroup raised their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $536.71.

McKesson Stock Performance

Shares of McKesson stock opened at $528.85 on Friday. McKesson has a 52-week low of $352.34 and a 52-week high of $544.81. The business’s 50 day simple moving average is $530.13 and its 200 day simple moving average is $491.57. The firm has a market cap of $69.50 billion, a PE ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $6.90 earnings per share. As a group, equities research analysts predict that McKesson will post 27.59 EPS for the current year.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MCK. OFI Invest Asset Management acquired a new stake in McKesson in the third quarter valued at about $26,000. Sachetta LLC bought a new stake in shares of McKesson during the fourth quarter worth $27,000. Register Financial Advisors LLC acquired a new position in shares of McKesson during the first quarter worth $29,000. BKM Wealth Management LLC bought a new position in shares of McKesson in the 4th quarter valued at $31,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of McKesson during the 4th quarter valued at $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.