McKesson (NYSE:MCK)‘s stock had its “hold” rating reaffirmed by investment analysts at Mizuho in a research report issued to clients and investors on Sunday. They presently have a $133.00 price target on the stock. Mizuho’s target price points to a potential upside of 7.12% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the stock. Morgan Stanley reduced their price target on shares of McKesson from $175.00 to $142.00 and set an “equal weight” rating for the company in a report on Tuesday, July 3rd. Citigroup reduced their price objective on shares of McKesson from $160.00 to $2.86 and set a “buy” rating for the company in a report on Friday, July 20th. Standpoint Research upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Jefferies Financial Group reiterated a “buy” rating and set a $160.00 price objective on shares of McKesson in a report on Friday, July 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. McKesson currently has an average rating of “Hold” and an average price target of $154.30.
NYSE:MCK traded up $1.02 during trading hours on Friday, reaching $124.16. The company had a trading volume of 6,229 shares, compared to its average volume of 1,797,162. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $24.60 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 1.30 and a beta of 1.22. McKesson has a twelve month low of $122.63 and a twelve month high of $178.86.
In related news, SVP Erin M. Lampert sold 868 shares of the business’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $142.00, for a total transaction of $123,256.00. Following the transaction, the senior vice president now directly owns 64 shares in the company, valued at $9,088. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Boston Partners raised its position in McKesson by 54.5% in the second quarter. Boston Partners now owns 6,237,042 shares of the company’s stock worth $832,021,000 after acquiring an additional 2,200,669 shares during the period. Pzena Investment Management LLC raised its position in McKesson by 7.6% in the second quarter. Pzena Investment Management LLC now owns 2,836,710 shares of the company’s stock worth $378,417,000 after acquiring an additional 201,062 shares during the period. Kiltearn Partners LLP raised its position in McKesson by 6.3% in the first quarter. Kiltearn Partners LLP now owns 1,914,898 shares of the company’s stock worth $269,350,000 after acquiring an additional 112,800 shares during the period. Wells Fargo & Company MN raised its position in McKesson by 13.3% in the first quarter. Wells Fargo & Company MN now owns 1,859,883 shares of the company’s stock worth $262,000,000 after acquiring an additional 218,530 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in McKesson by 0.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,663,100 shares of the company’s stock worth $234,281,000 after acquiring an additional 9,300 shares during the period. Institutional investors and hedge funds own 91.76% of the company’s stock.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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