McKesson (MCK) – Research Analysts’ Recent Ratings Changes

Posted by Trent Williams on Jul 30th, 2024

McKesson (NYSE: MCK) recently received a number of ratings updates from brokerages and research firms:

7/23/2024 – McKesson was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
7/19/2024 – McKesson had its price target raised by analysts at Citigroup Inc. from $620.00 to $670.00. They now have a “buy” rating on the stock.
7/9/2024 – McKesson had its price target raised by analysts at Evercore ISI from $600.00 to $660.00. They now have an “outperform” rating on the stock.
7/9/2024 – McKesson had its price target raised by analysts at Robert W. Baird from $679.00 to $694.00. They now have an “outperform” rating on the stock.
7/2/2024 – McKesson was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
6/25/2024 – McKesson had its price target raised by analysts at Bank of America Co. from $590.00 to $670.00. They now have a “buy” rating on the stock.
6/24/2024 – McKesson had its price target raised by analysts at Argus from $570.00 to $670.00. They now have a “buy” rating on the stock.
6/18/2024 – McKesson was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
6/5/2024 – McKesson was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.

McKesson Trading Up 0.5 %

Shares of MCK traded up $3.01 during mid-day trading on Tuesday, hitting $609.72. The company’s stock had a trading volume of 733,575 shares, compared to its average volume of 700,960. The firm has a market capitalization of $79.23 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.40 and a beta of 0.45. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $616.15. The firm has a 50-day simple moving average of $583.58 and a 200 day simple moving average of $543.72.

McKesson (NYSE:MCK – Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter last year, the business earned $7.19 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that McKesson Co. will post 31.68 EPS for the current fiscal year.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the sale, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total value of $2,180,192.76. Following the completion of the transaction, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 12,752 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the transaction, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at approximately $7,828,886.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,567 shares of company stock valued at $16,691,841. Insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new position in shares of McKesson during the 2nd quarter valued at about $1,490,000. Forum Financial Management LP raised its stake in McKesson by 12.6% during the second quarter. Forum Financial Management LP now owns 1,891 shares of the company’s stock worth $1,104,000 after purchasing an additional 211 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of McKesson by 0.5% in the 2nd quarter. International Assets Investment Management LLC now owns 72,029 shares of the company’s stock valued at $42,068,000 after purchasing an additional 371 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of McKesson by 3.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,433 shares of the company’s stock valued at $9,013,000 after buying an additional 532 shares during the period. Finally, iA Global Asset Management Inc. boosted its holdings in McKesson by 5.1% in the second quarter. iA Global Asset Management Inc. now owns 6,932 shares of the company’s stock valued at $4,049,000 after acquiring an additional 339 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.