McKesson (NYSE:MCK) Stock Rating Lowered by StockNews.com

McKesson (NYSE:MCKGet Free Report) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

Several other research analysts also recently commented on the stock. Robert W. Baird increased their price objective on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Citigroup upped their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Evercore ISI upped their target price on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Argus upped their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $571.47.

Get Our Latest Stock Analysis on MCK

McKesson Price Performance

Shares of MCK stock opened at $585.93 on Wednesday. McKesson has a 1 year low of $383.82 and a 1 year high of $587.23. The firm has a fifty day moving average price of $544.73 and a 200-day moving average price of $509.44. The company has a market cap of $76.17 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.34 and a beta of 0.47.

McKesson (NYSE:MCKGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $7.19 EPS. Equities research analysts expect that McKesson will post 31.54 EPS for the current year.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,204 shares of company stock valued at $15,699,113. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On McKesson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCK. WealthPlan Investment Management LLC purchased a new stake in McKesson in the third quarter valued at approximately $529,000. Jump Financial LLC lifted its position in McKesson by 29.0% during the third quarter. Jump Financial LLC now owns 1,945 shares of the company’s stock valued at $846,000 after buying an additional 437 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in McKesson by 34.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,702 shares of the company’s stock valued at $740,000 after buying an additional 438 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in McKesson by 4.3% during the third quarter. Janney Montgomery Scott LLC now owns 33,072 shares of the company’s stock valued at $14,381,000 after buying an additional 1,356 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in McKesson by 14.4% during the third quarter. D.A. Davidson & CO. now owns 2,784 shares of the company’s stock valued at $1,211,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

About McKesson

(Get Free Report)

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.

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Analyst Recommendations for McKesson (NYSE:MCK)

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