McKesson (NYSE:MCK) Upgraded at Wall Street Zen

McKesson (NYSE:MCK) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Several other brokerages have also commented on MCK. UBS Group increased their price objective on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Mizuho raised their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Morgan Stanley upped their price objective on shares of McKesson from $745.00 to $770.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. Finally, Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $696.42.

McKesson Price Performance

MCK opened at $719.30 on Friday. The firm has a market capitalization of $89.99 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.44 and a beta of 0.48. The business’s 50-day moving average is $714.17 and its two-hundred day moving average is $657.15. McKesson has a 1 year low of $464.42 and a 1 year high of $736.96.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter in the previous year, the business posted $6.18 EPS. McKesson’s revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts expect that McKesson will post 32.77 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the sale, the executive vice president directly owned 2,544 shares in the company, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer directly owned 1,972 shares of the company’s stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,117 shares of company stock valued at $23,526,451. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On McKesson

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCK. Brighton Jones LLC lifted its stake in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in McKesson by 10.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,418 shares of the company’s stock worth $3,088,000 after buying an additional 506 shares in the last quarter. Assetmark Inc. raised its holdings in shares of McKesson by 66.3% during the fourth quarter. Assetmark Inc. now owns 11,450 shares of the company’s stock valued at $6,526,000 after acquiring an additional 4,566 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of McKesson in the fourth quarter valued at approximately $313,000. Finally, Cullen Frost Bankers Inc. lifted its position in shares of McKesson by 4.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 2,733 shares of the company’s stock valued at $1,558,000 after acquiring an additional 107 shares in the last quarter. 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.