McKesson (NYSE:MCK)‘s stock had its “sell” rating reaffirmed by investment analysts at Credit Suisse Group in a report released on Friday. They currently have a $130.00 price target on the stock. Credit Suisse Group’s target price indicates a potential downside of 21.81% from the company’s previous close.
A number of other equities research analysts have also commented on MCK. Mizuho decreased their price objective on shares of McKesson from $186.00 to $179.00 and set a “neutral” rating on the stock in a report on Friday. Needham & Company LLC increased their price objective on shares of McKesson from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Robert W. Baird reissued a “buy” rating and set a $200.00 price objective on shares of McKesson in a report on Wednesday, January 17th. Jefferies Group raised shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Wednesday, January 24th. Finally, Evercore ISI assumed coverage on shares of McKesson in a report on Thursday, January 4th. They set an “outperform” rating and a $179.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $178.27.
Shares of McKesson (NYSE MCK) opened at $166.27 on Friday. McKesson has a fifty-two week low of $133.82 and a fifty-two week high of $178.86. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The company has a market cap of $35,207.18 and a PE ratio of 7.88.
In other news, Chairman John H. Hammergren sold 65,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $160.00, for a total value of $10,400,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MCK. WFG Advisors LP boosted its stake in shares of McKesson by 5.0% in the 2nd quarter. WFG Advisors LP now owns 859 shares of the company’s stock valued at $141,000 after purchasing an additional 41 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in McKesson during the 3rd quarter worth approximately $155,000. CWH Capital Management Inc. bought a new position in McKesson during the 2nd quarter worth approximately $165,000. Community Financial Services Group LLC bought a new position in McKesson during the 4th quarter worth approximately $204,000. Finally, Biltmore Wealth Management LLC bought a new position in McKesson during the 3rd quarter worth approximately $206,000. 87.90% of the stock is currently owned by institutional investors.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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