McKesson Corporation (NYSE:MCK) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Several other equities analysts also recently issued reports on the stock. Barclays PLC reaffirmed an “overweight” rating and set a $174.00 price target on shares of McKesson Corporation in a research note on Thursday, April 27th. Vetr raised shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price target for the company in a research note on Monday, June 12th. Leerink Swann set a $140.00 price target on shares of McKesson Corporation and gave the company a “hold” rating in a research note on Friday, May 19th. J P Morgan Chase & Co raised shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a research note on Tuesday, May 23rd. Finally, Zacks Investment Research downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. McKesson Corporation has a consensus rating of “Hold” and a consensus price target of $171.21.

Shares of McKesson Corporation (NYSE:MCK) opened at 146.00 on Friday. The firm’s 50-day moving average is $160.21 and its 200-day moving average is $152.14. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $194.77. The firm has a market cap of $30.70 billion, a price-to-earnings ratio of 6.62 and a beta of 1.13.

McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by $0.35. The business had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. McKesson Corporation’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.50 EPS. Analysts predict that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.

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In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John H. Hammergren sold 38,619 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the completion of the sale, the chairman now owns 19,309 shares of the company’s stock, valued at $3,162,041.84. The disclosure for this sale can be found here. Insiders sold 60,231 shares of company stock valued at $9,830,297 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

A number of large investors have recently bought and sold shares of MCK. DnB Asset Management AS boosted its stake in McKesson Corporation by 16.2% in the first quarter. DnB Asset Management AS now owns 26,532 shares of the company’s stock worth $3,934,000 after buying an additional 3,700 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of McKesson Corporation during the first quarter worth about $2,242,000. Trust Department MB Financial Bank N A boosted its position in shares of McKesson Corporation by 30.0% in the first quarter. Trust Department MB Financial Bank N A now owns 54,601 shares of the company’s stock worth $8,095,000 after buying an additional 12,609 shares in the last quarter. Granite Investment Advisors LLC boosted its position in shares of McKesson Corporation by 20.7% in the first quarter. Granite Investment Advisors LLC now owns 51,896 shares of the company’s stock worth $7,694,000 after buying an additional 8,894 shares in the last quarter. Finally, Boys Arnold & Co. Inc. boosted its position in shares of McKesson Corporation by 5.3% in the first quarter. Boys Arnold & Co. Inc. now owns 3,622 shares of the company’s stock worth $537,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 86.58% of the company’s stock.

McKesson Corporation Company Profile

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

Analyst Recommendations for McKesson Corporation (NYSE:MCK)

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