McKesson (NYSE:MCK) Cut to Hold at Wall Street Zen

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

A number of other analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. boosted their target price on McKesson from $983.00 to $1,107.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. Finally, Raymond James Financial set a $970.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $960.93.

McKesson Price Performance

McKesson stock opened at $941.51 on Friday. The stock has a market cap of $115.33 billion, a P/E ratio of 27.08, a PEG ratio of 1.52 and a beta of 0.38. McKesson has a 1 year low of $637.00 and a 1 year high of $999.00. The firm’s 50 day moving average price is $893.90 and its 200-day moving average price is $824.34.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $9.34 earnings per share for the quarter, beating analysts’ consensus estimates of $9.19 by $0.15. The firm had revenue of $106.16 billion during the quarter, compared to analyst estimates of $105.98 billion. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $8.03 earnings per share. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. As a group, equities analysts expect that McKesson will post 32.77 EPS for the current year.

Insider Transactions at McKesson

In related news, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at $3,214,530. The trade was a 45.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Maria Martinez sold 349 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the sale, the director owned 301 shares of the company’s stock, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,868 shares of company stock worth $3,743,820. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On McKesson

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its position in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the period. Caxton Associates LLP purchased a new position in McKesson during the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC boosted its holdings in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after acquiring an additional 300 shares during the last quarter. ABN Amro Investment Solutions acquired a new stake in shares of McKesson in the second quarter worth $1,663,000. Finally, Clearstead Trust LLC raised its stake in shares of McKesson by 52.8% during the 2nd quarter. Clearstead Trust LLC now owns 55 shares of the company’s stock valued at $40,000 after buying an additional 19 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

About McKesson

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.