McKesson (NYSE:MCK) Rating Lowered to Hold at StockNews.com

McKesson (NYSE:MCK) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other research firms have also issued reports on MCK. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Leerink Partners dropped their target price on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company reduced their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Bank of America upped their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $613.36.

McKesson Stock Performance

NYSE MCK opened at $488.25 on Friday. McKesson has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm has a market capitalization of $63.44 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The stock’s fifty day moving average is $550.84 and its two-hundred day moving average is $555.40.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the previous year, the firm earned $7.27 EPS. The business’s revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson will post 32.07 EPS for the current year.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 11,259 shares of company stock valued at $6,635,492 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Several large investors have recently bought and sold shares of MCK. Distillate Capital Partners LLC grew its holdings in McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after purchasing an additional 133 shares during the last quarter. Councilmark Asset Management LLC purchased a new position in shares of McKesson during the 1st quarter valued at approximately $5,160,000. Vaughan David Investments LLC IL acquired a new stake in shares of McKesson during the second quarter worth approximately $238,000. Finally, BDF Gestion bought a new stake in shares of McKesson in the second quarter worth $3,504,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.