McKesson (NYSE:MCK) Rating Increased to Strong-Buy at Wall Street Zen

McKesson (NYSE:MCK - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Friday.

A number of other research analysts also recently issued reports on the company. Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Morgan Stanley upped their price objective on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average price target of $696.42.

McKesson Trading Up 0.6%

McKesson stock traded up $3.99 during trading on Friday, hitting $725.99. 1,932,878 shares of the company were exchanged, compared to its average volume of 925,495. The company has a market capitalization of $90.83 billion, a P/E ratio of 28.11, a PEG ratio of 1.44 and a beta of 0.49. The business's 50 day moving average is $711.19 and its 200 day moving average is $652.06. McKesson has a 52 week low of $464.42 and a 52 week high of $736.36.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.18 EPS. Equities analysts expect that McKesson will post 32.77 EPS for the current year.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the sale, the chief executive officer now owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 341 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president now directly owns 2,800 shares in the company, valued at $2,010,148. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is owned by company insiders.

Institutional Trading of McKesson

Institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. lifted its holdings in McKesson by 54.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after purchasing an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in McKesson by 16.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after purchasing an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in McKesson by 18.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock worth $15,501,000 after purchasing an additional 3,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock worth $123,332,000 after purchasing an additional 7,556 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its holdings in McKesson by 6.3% during the 1st quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock worth $659,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

About McKesson

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.