McKesson (NYSE:MCK) Lowered to Buy at StockNews.com

McKesson (NYSE:MCK) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

A number of other research analysts also recently weighed in on the company. Barclays upped their price target on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Bank of America upped their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Morgan Stanley boosted their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Evercore ISI raised their price objective on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Finally, UBS Group lifted their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $590.47.

McKesson Stock Performance

McKesson stock opened at $586.34 on Tuesday. The stock has a market capitalization of $76.19 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.37 and a beta of 0.45. McKesson has a 52-week low of $395.30 and a 52-week high of $612.17. The stock’s 50 day moving average price is $565.88 and its two-hundred day moving average price is $525.49.

McKesson (NYSE:MCK) last issued its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same period in the prior year, the company earned $7.19 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts forecast that McKesson will post 31.54 EPS for the current year.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the sale, the executive vice president now owns 2,022 shares in the company, valued at $1,183,941.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McKesson news, EVP Leann B. Smith sold 600 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maria Martinez sold 483 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. Insiders have sold 25,814 shares of company stock worth $14,511,649 in the last ninety days. Company insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Several large investors have recently modified their holdings of the business. Intrust Bank NA purchased a new position in McKesson in the 4th quarter valued at approximately $206,000. Raymond James & Associates raised its stake in shares of McKesson by 6.1% during the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares in the last quarter. Heritage Wealth Management LLC bought a new position in McKesson in the 4th quarter worth about $1,538,000. Finally, Insight Wealth Strategies LLC purchased a new position in McKesson during the 4th quarter valued at about $1,813,000. 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.