McKesson (NYSE:MCK) Lowered to "Buy" Rating by StockNews.com

McKesson (NYSE:MCK - Get Free Report) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

MCK has been the subject of several other research reports. Morgan Stanley lifted their price objective on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company lifted their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. UBS Group increased their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Bank of America raised their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $686.69.

McKesson Stock Performance

Shares of MCK opened at $719.07 on Wednesday. The stock has a market capitalization of $89.96 billion, a PE ratio of 32.92, a P/E/G ratio of 1.29 and a beta of 0.53. The company's 50-day simple moving average is $686.37 and its 200-day simple moving average is $630.52. McKesson has a 1 year low of $464.42 and a 1 year high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same quarter last year, the company posted $6.18 EPS. The firm's revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts predict that McKesson will post 32.77 earnings per share for the current year.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company's stock.

Hedge Funds Weigh In On McKesson

Several institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC grew its stake in shares of McKesson by 11.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,880 shares of the company's stock valued at $1,265,000 after purchasing an additional 195 shares during the last quarter. Intech Investment Management LLC grew its position in McKesson by 39.8% in the 1st quarter. Intech Investment Management LLC now owns 41,702 shares of the company's stock valued at $28,065,000 after buying an additional 11,881 shares during the last quarter. Focus Partners Wealth increased its stake in McKesson by 3.3% in the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company's stock valued at $48,159,000 after buying an additional 2,283 shares during the period. Flaharty Asset Management LLC purchased a new position in McKesson during the 1st quarter worth $39,000. Finally, Integrity Alliance LLC. acquired a new stake in shares of McKesson in the 1st quarter worth $232,000. 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.

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