McKesson Corporation (NYSE:MCK) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
A number of other equities research analysts have also issued reports on MCK. BidaskClub lowered shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Mizuho set a $168.00 price objective on shares of McKesson Corporation and gave the company a “hold” rating in a report on Tuesday, October 24th. Royal Bank Of Canada reissued a “hold” rating and issued a $170.00 price objective on shares of McKesson Corporation in a report on Friday. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a report on Thursday, July 27th. Finally, Vetr lowered shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price objective for the company. in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. McKesson Corporation has an average rating of “Hold” and a consensus target price of $174.62.
Shares of McKesson Corporation (NYSE MCK) opened at 135.02 on Tuesday. The stock has a 50 day moving average of $150.50 and a 200 day moving average of $153.61. The company has a market cap of $28.39 billion, a price-to-earnings ratio of 6.13 and a beta of 1.17. McKesson Corporation has a 12-month low of $126.30 and a 12-month high of $169.29.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.50. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The firm had revenue of $52.06 billion during the quarter, compared to analyst estimates of $51.69 billion. During the same quarter in the prior year, the firm posted $2.94 earnings per share. McKesson Corporation’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that McKesson Corporation will post $12.07 earnings per share for the current fiscal year.
In other news, SVP Erin M. Lampert sold 900 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John H. Hammergren sold 100,000 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $154.81, for a total transaction of $15,481,000.00. Following the sale, the chief executive officer now directly owns 165,000 shares in the company, valued at approximately $25,543,650. The disclosure for this sale can be found here. Insiders have sold 950,983 shares of company stock worth $145,560,946 in the last three months. Corporate insiders own 1.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Tocqueville Asset Management L.P. lifted its position in shares of McKesson Corporation by 607.9% during the third quarter. Tocqueville Asset Management L.P. now owns 37,829 shares of the company’s stock worth $5,811,000 after purchasing an additional 32,485 shares in the last quarter. ARP Americas LLC acquired a new stake in shares of McKesson Corporation during the third quarter worth about $354,000. Tavio Capital LLC acquired a new stake in shares of McKesson Corporation during the third quarter worth about $21,563,000. New York State Teachers Retirement System lifted its position in shares of McKesson Corporation by 1.0% during the third quarter. New York State Teachers Retirement System now owns 361,643 shares of the company’s stock worth $55,552,000 after purchasing an additional 3,660 shares in the last quarter. Finally, Northwest Investment Counselors LLC lifted its position in shares of McKesson Corporation by 9.6% during the third quarter. Northwest Investment Counselors LLC now owns 7,399 shares of the company’s stock worth $1,137,000 after purchasing an additional 650 shares in the last quarter. 85.29% of the stock is currently owned by institutional investors and hedge funds.
About McKesson Corporation
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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