McKesson (NYSE:MCK) Rating Lowered to “Hold” at Wall Street Zen

McKesson (NYSE:MCK) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also recently commented on the company. UBS Group increased their price target on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley lifted their target price on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Wells Fargo & Company raised their price target on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Finally, Bank of America upped their price objective on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $880.15.

McKesson Stock Down 0.9%

MCK stock opened at $850.77 on Friday. The stock has a market capitalization of $105.82 billion, a P/E ratio of 33.92, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson has a 52 week low of $558.13 and a 52 week high of $867.63. The firm has a 50-day simple moving average of $757.54 and a 200-day simple moving average of $724.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $7.07 EPS. On average, analysts expect that McKesson will post 32.77 earnings per share for the current year.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by insiders.

Institutional Trading of McKesson

A number of hedge funds have recently bought and sold shares of the company. Solstein Capital LLC lifted its position in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Bank of Jackson Hole Trust boosted its position in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after purchasing an additional 18 shares during the last quarter. State of Wyoming acquired a new stake in McKesson during the second quarter valued at $29,000. CBIZ Investment Advisory Services LLC grew its stake in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Finally, GFG Capital LLC acquired a new position in McKesson in the 2nd quarter worth about $30,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Company Profile

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.