Deutsche Bank started coverage on shares of McKesson (NYSE:MCK) in a report issued on Monday. The brokerage set a “buy” rating and a $175.00 price target on the stock. Deutsche Bank’s price objective points to a potential upside of 16.13% from the stock’s current price.
Several other brokerages also recently commented on MCK. Morgan Stanley downgraded McKesson from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $184.00 to $172.00 in a research note on Thursday, September 14th. BidaskClub downgraded McKesson from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Needham & Company LLC upgraded McKesson from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research note on Friday, September 8th. Mizuho set a $168.00 target price on McKesson and gave the company a “hold” rating in a research note on Tuesday, October 24th. Finally, Royal Bank Of Canada assumed coverage on McKesson in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $174.31.
Shares of McKesson (NYSE MCK) opened at $150.69 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. McKesson has a 52 week low of $133.82 and a 52 week high of $169.29. The firm has a market capitalization of $30,518.58, a P/E ratio of 12.04, a P/E/G ratio of 1.50 and a beta of 1.23.
In related news, CEO John H. Hammergren sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $154.81, for a total value of $15,481,000.00. Following the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,543,650. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John H. Hammergren sold 99,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $153.89, for a total value of $15,235,110.00. Following the completion of the transaction, the chief executive officer now directly owns 165,000 shares in the company, valued at $25,391,850. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 949,900 shares of company stock worth $145,403,445. Company insiders own 1.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Family Firm Inc. raised its holdings in McKesson by 0.3% during the second quarter. Family Firm Inc. now owns 1,922 shares of the company’s stock valued at $316,000 after acquiring an additional 5 shares during the period. Cypress Capital Group raised its holdings in McKesson by 0.3% during the second quarter. Cypress Capital Group now owns 3,588 shares of the company’s stock valued at $590,000 after acquiring an additional 10 shares during the period. Liberty Capital Management Inc. raised its holdings in McKesson by 0.4% during the second quarter. Liberty Capital Management Inc. now owns 9,744 shares of the company’s stock valued at $1,610,000 after acquiring an additional 34 shares during the period. Cadence Capital Management LLC raised its holdings in McKesson by 0.4% during the second quarter. Cadence Capital Management LLC now owns 8,621 shares of the company’s stock valued at $1,418,000 after acquiring an additional 36 shares during the period. Finally, Savant Capital LLC raised its holdings in McKesson by 1.6% during the second quarter. Savant Capital LLC now owns 2,538 shares of the company’s stock valued at $418,000 after acquiring an additional 40 shares during the period. 88.10% of the stock is currently owned by institutional investors.
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McKesson Company Profile
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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