Several other equities analysts also recently commented on MCK. Leerink Swann set a $155.00 price target on shares of McKesson and gave the company a hold rating in a report on Saturday, January 21st. Evercore ISI reiterated an outperform rating and set a $166.00 price target on shares of McKesson in a report on Monday, April 17th. Needham & Company LLC started coverage on shares of McKesson in a report on Tuesday, April 4th. They set a hold rating on the stock. Barclays PLC reiterated an overweight rating and set a $174.00 price target on shares of McKesson in a report on Thursday, April 27th. Finally, Zacks Investment Research downgraded shares of McKesson from a hold rating to a sell rating in a report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $169.34.
Shares of McKesson (NYSE:MCK) traded up 8.18% during midday trading on Thursday, hitting $153.01. The company had a trading volume of 7,889,264 shares. McKesson has a 1-year low of $114.53 and a 1-year high of $199.43. The firm has a market capitalization of $32.44 billion, a P/E ratio of 6.73 and a beta of 1.06. The stock has a 50 day moving average price of $142.02 and a 200 day moving average price of $143.72.
McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 18th. The company reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.35. McKesson had a net margin of 0.97% and a return on equity of 30.05%. The firm had revenue of $48.71 billion for the quarter, compared to the consensus estimate of $49.48 billion. During the same period in the previous year, the firm posted $2.44 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that McKesson will post $11.46 EPS for the current fiscal year.
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In other McKesson news, Chairman John H. Hammergren sold 100,500 shares of the firm’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $150.44, for a total value of $15,119,220.00. Following the completion of the transaction, the chairman now owns 22,390 shares of the company’s stock, valued at $3,368,351.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.15% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in McKesson by 0.9% in the first quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock worth $3,370,074,000 after buying an additional 192,254 shares in the last quarter. BlackRock Inc. boosted its position in McKesson by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares in the last quarter. Capital Research Global Investors boosted its position in McKesson by 27.3% in the third quarter. Capital Research Global Investors now owns 11,486,482 shares of the company’s stock worth $1,915,371,000 after buying an additional 2,465,070 shares in the last quarter. State Street Corp boosted its position in McKesson by 5.5% in the fourth quarter. State Street Corp now owns 9,936,920 shares of the company’s stock worth $1,395,638,000 after buying an additional 520,070 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in McKesson by 3.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,927,553 shares of the company’s stock worth $730,560,000 after buying an additional 180,107 shares in the last quarter. 87.81% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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