Mizuho Begins Coverage on McKesson (NYSE:MCK)

Analysts at Mizuho began coverage on shares of McKesson (NYSE:MCK) in a research note issued to investors on Wednesday. The firm set a “neutral” rating and a $630.00 price target on the stock. Mizuho’s price target would suggest a potential upside of 3.67% from the stock’s previous close.

MCK has been the subject of several other reports. Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Barclays raised their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $635.86.

McKesson Stock Down 0.7 %

Shares of McKesson stock opened at $607.67 on Wednesday. The firm has a market cap of $77.14 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. McKesson has a 52 week low of $431.35 and a 52 week high of $637.51. The business’s fifty day simple moving average is $552.52 and its 200-day simple moving average is $561.54.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm posted $6.23 earnings per share. As a group, equities analysts expect that McKesson will post 32.73 earnings per share for the current year.

Hedge Funds Weigh In On McKesson

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCK. CWM LLC lifted its position in shares of McKesson by 33.5% during the 2nd quarter. CWM LLC now owns 7,460 shares of the company’s stock worth $4,357,000 after buying an additional 1,870 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in McKesson by 4.5% in the second quarter. Valeo Financial Advisors LLC now owns 1,354 shares of the company’s stock valued at $791,000 after acquiring an additional 58 shares during the last quarter. BDF Gestion acquired a new position in McKesson in the second quarter valued at $3,504,000. QRG Capital Management Inc. grew its holdings in shares of McKesson by 3.2% during the second quarter. QRG Capital Management Inc. now owns 53,086 shares of the company’s stock worth $31,004,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Opal Wealth Advisors LLC increased its position in shares of McKesson by 20.6% during the second quarter. Opal Wealth Advisors LLC now owns 1,020 shares of the company’s stock worth $596,000 after purchasing an additional 174 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

About McKesson

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.