McKesson (NYSE:MCK) Rating Increased to Hold at Royal Bank Of Canada

McKesson (NYSE:MCK) was upgraded by research analysts at Royal Bank Of Canada to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on MCK. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Wells Fargo & Company upped their price target on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. TD Cowen increased their price target on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, UBS Group boosted their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $973.44.

McKesson Trading Down 1.8%

NYSE:MCK opened at $853.53 on Wednesday. The company’s 50 day moving average is $818.34 and its two-hundred day moving average is $843.66. The company has a market cap of $99.51 billion, a PE ratio of 22.84, a P/E/G ratio of 1.71 and a beta of 0.30. McKesson has a twelve month low of $673.38 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts expect that McKesson will post 44.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 29,049 shares of company stock valued at $22,530,626. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. acquired a new position in McKesson in the 4th quarter valued at about $26,000. Delos Wealth Advisors LLC acquired a new position in McKesson in the 2nd quarter valued at about $27,000. State of Wyoming purchased a new stake in shares of McKesson in the 2nd quarter valued at approximately $29,000. Finally, Kingdom Financial Group LLC. purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors 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.