McKesson (NYSE:MCK) Receives Sector Perform Rating from Royal Bank Of Canada

McKesson (NYSE:MCK)‘s stock had its “sector perform” rating restated by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $845.00 price objective on the stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 5.58% from the stock’s current price.

Several other research analysts also recently weighed in on MCK. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. UBS Group upped their price target on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Barclays increased their price target on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Citigroup upped their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, TD Cowen raised their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

McKesson Trading Up 1.5%

Shares of MCK opened at $894.94 on Monday. The company’s 50 day simple moving average is $860.19 and its 200-day simple moving average is $840.52. McKesson has a 12-month low of $687.68 and a 12-month high of $999.00. The firm has a market cap of $104.34 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.75 and a beta of 0.30.

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

Insider Buying and Selling at McKesson

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. 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. Insiders have sold 17,338 shares of company stock valued at $13,643,366 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On McKesson

Several large investors have recently added to or reduced their stakes in MCK. Brighton Jones LLC boosted its position in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new position in McKesson during the first quarter worth approximately $233,000. Sivia Capital Partners LLC raised its stake in McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of McKesson in the 2nd quarter valued at $166,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Company Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.