McKesson (NYSE:MCK) Stock Rating Lowered by Zacks Research

McKesson (NYSE:MCK) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI restated an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research report on Thursday, November 6th. Wells Fargo & Company increased their price target on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Jefferies Financial Group lifted their price objective on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. TD Cowen upped their target price on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Mizuho increased their target price on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

McKesson Stock Performance

MCK opened at $884.76 on Tuesday. The company has a market cap of $109.20 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 1.46 and a beta of 0.51. McKesson has a one year low of $558.13 and a one year high of $895.58. The business’s fifty day moving average is $799.61 and its two-hundred day moving average is $738.51.

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

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On McKesson

Hedge funds have recently made changes to their positions in the business. GGM Financials LLC acquired a new position in McKesson in the third quarter valued at $25,000. Solstein Capital LLC boosted its stake 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 during the last quarter. Bank of Jackson Hole Trust grew its holdings in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares during the period. State of Wyoming acquired a new position in shares of McKesson during the 2nd quarter valued at about $29,000. Finally, GFG Capital LLC purchased a new position in shares of McKesson during the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.