StockNews.com Upgrades McKesson (NYSE:MCK) to Strong-Buy

McKesson (NYSE:MCK) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Other equities research analysts have also recently issued reports about the company. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Mizuho boosted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

McKesson Trading Down 0.8%

Shares of MCK stock opened at $682.20 on Tuesday. McKesson has a 12-month low of $464.42 and a 12-month high of $728.48. The stock’s 50-day moving average price is $680.82 and its 200-day moving average price is $623.83. The stock has a market capitalization of $85.50 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $94 billion. During the same quarter in the previous year, the business posted $6.18 earnings per share. McKesson’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, research analysts predict that McKesson will post 32.77 EPS for the current fiscal year.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

A number of institutional investors have recently bought and sold shares of MCK. Capital A Wealth Management LLC acquired a new stake in McKesson in the 4th quarter worth approximately $26,000. Millstone Evans Group LLC acquired a new stake in McKesson during the 4th quarter worth about $28,000. Bank of Jackson Hole Trust lifted its position in McKesson by 64.3% during the 1st 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 lifted its position in McKesson by 1,366.7% during the 1st 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 acquired a new stake in McKesson during the 4th quarter worth about $32,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.