McKesson (NYSE:MCK) Cut to “Buy” at Wall Street Zen

McKesson (NYSE:MCK) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

MCK has been the topic of several other reports. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Wells Fargo & Company lifted their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Bank of America lifted 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. Finally, UBS Group lifted 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. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

McKesson Price Performance

MCK opened at $710.30 on Wednesday. The stock’s 50 day simple moving average is $688.81 and its 200 day simple moving average is $632.39. McKesson has a 1 year low of $464.42 and a 1 year high of $731.00. The firm has a market cap of $88.87 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company earned $6.18 EPS. As a group, sell-side analysts anticipate that McKesson will post 32.77 EPS for the current year.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Several large investors have recently modified their holdings of MCK. Capital A Wealth Management LLC bought a new stake in shares of McKesson in the fourth quarter worth $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson in the fourth quarter worth $28,000. Bank of Jackson Hole Trust grew its holdings in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC grew its holdings in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in shares of McKesson in the fourth quarter worth $32,000. 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.