McKesson (NYSE:MCK) Rating Lowered to “Buy” at StockNews.com

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

A number of other equities analysts have also commented on MCK. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Performance

Shares of NYSE:MCK opened at $593.82 on Friday. The company has a market capitalization of $74.42 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. McKesson has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company’s 50-day moving average is $587.26 and its 200 day moving average is $563.09.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts predict that McKesson will post 32.69 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 1,346 shares of company stock valued at $795,275. Company insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

A number of large investors have recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the 3rd quarter worth $31,000. Finally, Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter valued at about $32,000. Hedge funds and other 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.