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

McKesson (NYSE:MCK) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

MCK has been the topic of several other reports. UBS Group upped their price objective on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI upped their price objective on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday. Mizuho upped their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen increased their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $829.08.

McKesson Trading Up 3.3%

MCK opened at $760.82 on Friday. The company has a market cap of $94.63 billion, a P/E ratio of 30.34, a P/E/G ratio of 1.36 and a beta of 0.51. The business’s 50-day moving average price is $697.79 and its 200-day moving average price is $699.59. McKesson has a 12 month low of $479.15 and a 12 month high of $770.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.88 earnings per share. Equities research analysts forecast that McKesson will post 32.77 earnings per share for the current fiscal year.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at approximately $19,735,884.48. This trade represents a 41.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by insiders.

Institutional Trading of McKesson

Institutional investors have recently added to or reduced their stakes in the company. Solstein Capital LLC lifted its stake in McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. State of Wyoming bought a new stake in McKesson in the second quarter worth about $29,000. GFG Capital LLC bought a new stake in McKesson in the second quarter worth about $30,000. CBIZ Investment Advisory Services LLC lifted its stake in 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 purchasing an additional 41 shares during the last quarter. Finally, Bank of Jackson Hole Trust increased its position in shares of McKesson by 64.3% during 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. 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.