BidaskClub Downgrades McKesson Corporation (MCK) to Strong Sell
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.
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