McKesson (NYSE:MCK) Earns “Neutral” Rating from Robert W. Baird

McKesson (NYSE:MCK)‘s stock had its “neutral” rating restated by research analysts at Robert W. Baird in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $531.00 target price on the stock, down from their previous target price of $603.00. Robert W. Baird’s price objective suggests a potential upside of 5.15% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Evercore ISI cut their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Leerink Partners dropped their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Bank of America upped their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company decreased their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $610.93.

McKesson Stock Performance

Shares of NYSE MCK opened at $505.00 on Tuesday. The business has a 50 day simple moving average of $558.79 and a 200 day simple moving average of $557.07. McKesson has a 52 week low of $431.35 and a 52 week high of $637.51. The stock has a market cap of $65.62 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.27 EPS. On average, analysts predict that McKesson will post 32.11 EPS for the current year.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at $51,546,684.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. lifted its position in shares of McKesson by 23.4% during the 2nd quarter. Centaurus Financial Inc. now owns 348 shares of the company’s stock worth $203,000 after buying an additional 66 shares during the period. Anchor Investment Management LLC raised its stake in McKesson by 3.1% during the second quarter. Anchor Investment Management LLC now owns 8,768 shares of the company’s stock worth $5,121,000 after acquiring an additional 263 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of McKesson by 206.7% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 460 shares of the company’s stock valued at $269,000 after acquiring an additional 310 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in shares of McKesson by 2,143.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after purchasing an additional 1,393 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of McKesson in the 2nd quarter worth about $12,331,000. 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.