McKesson (NYSE:MCK) Price Target Lowered to $989.00 at TD Cowen

McKesson (NYSE:MCK) had its price objective trimmed by TD Cowen from $1,012.00 to $989.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently commented on the company. William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Wells Fargo & Company reduced their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Citigroup lowered their price target on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. JPMorgan Chase & Co. cut their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $959.00.

McKesson Stock Down 0.4%

Shares of NYSE:MCK opened at $828.08 on Tuesday. The company has a market cap of $96.95 billion, a PE ratio of 21.53, a P/E/G ratio of 1.37 and a beta of 0.31. The company’s 50-day moving average price is $775.33 and its 200 day moving average price is $838.48. McKesson has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the prior year, the firm earned $10.12 EPS. McKesson’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts anticipate that McKesson will post 44.28 EPS for the current year.

Insider Transactions at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the sale, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This trade represents a 43.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 28,748 shares of company stock valued at $22,262,035. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On McKesson

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares in the last quarter. Caxton Associates LLP bought a new stake in McKesson during the first quarter worth approximately $233,000. Sivia Capital Partners LLC boosted its holdings in McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares in the last quarter. Treasurer of the State of North Carolina grew its position in McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after buying an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of McKesson in the second quarter valued at $166,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.