Barclays Issues Pessimistic Forecast for McKesson (NYSE:MCK) Stock Price

McKesson (NYSE:MCK) had its price objective lowered by investment analysts at Barclays from $1,050.00 to $925.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 16.96% from the company’s previous close.

Other equities analysts have also issued reports about the company. William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Citigroup cut their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Weiss Ratings cut McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $960.53.

McKesson Stock Up 0.8%

MCK stock traded up $6.61 during trading on Wednesday, reaching $790.84. 127,684 shares of the company’s stock were exchanged, compared to its average volume of 896,804. McKesson has a 1-year low of $637.00 and a 1-year high of $999.00. The company’s fifty day moving average price is $802.84 and its 200-day moving average price is $847.76. The firm has a market cap of $95.06 billion, a PE ratio of 20.56, a P/E/G ratio of 1.26 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts expect that McKesson will post 44.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. This represents a 23.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,893 shares of company stock valued at $5,225,385 over the last three months. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On McKesson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares during the period. Investment Research Partners LLC grew its holdings in shares of McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after buying an additional 11 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after buying an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC raised its position in McKesson by 2.9% during the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after buying an additional 12 shares during the period. Finally, LRI Investments LLC lifted its stake in McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.