McKesson (NYSE:MCK) Raised to “Buy” at StockNews.com

McKesson (NYSE:MCK) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other brokerages have also issued reports on MCK. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Citigroup cut their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Mizuho upped their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $531.00 price target (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $625.64.

McKesson Stock Performance

McKesson stock opened at $607.51 on Wednesday. McKesson has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a market cap of $78.78 billion, a P/E ratio of 27.17, a PEG ratio of 1.23 and a beta of 0.44. The firm’s fifty day moving average price is $510.96 and its 200-day moving average price is $550.61.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.89 by $0.18. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company posted $6.23 EPS. Sell-side analysts predict that McKesson will post 31.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Hedge funds have recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC boosted its holdings in shares of McKesson by 5.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $357,000 after acquiring an additional 36 shares during the last quarter. BIP Wealth LLC boosted its holdings in McKesson by 20.5% in the third quarter. BIP Wealth LLC now owns 3,122 shares of the company’s stock worth $1,544,000 after purchasing an additional 531 shares during the last quarter. Prospera Financial Services Inc grew its position in McKesson by 5.5% in the 3rd quarter. Prospera Financial Services Inc now owns 2,559 shares of the company’s stock worth $1,267,000 after purchasing an additional 133 shares during the period. Aviance Capital Partners LLC raised its stake in McKesson by 31.6% during the 3rd quarter. Aviance Capital Partners LLC now owns 820 shares of the company’s stock valued at $405,000 after buying an additional 197 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.