McKesson (NYSE:MCK) Given Neutral Rating at Robert W. Baird

McKesson (NYSE:MCK)‘s stock had its “neutral” rating restated by Robert W. Baird in a note issued to investors on Tuesday, MarketBeat reports. They presently have a $531.00 target price on the stock, down from their prior target price of $603.00. Robert W. Baird’s target price would suggest a potential upside of 10.80% from the company’s previous close.

MCK has been the topic of several other research reports. Bank of America boosted their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Barclays increased their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Argus upped their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Mizuho lifted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $613.36.

McKesson Stock Performance

McKesson stock opened at $479.24 on Tuesday. The firm has a market capitalization of $62.15 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson has a one year low of $431.35 and a one year high of $637.51. The stock’s 50 day moving average price is $556.72 and its 200 day moving average price is $556.74.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the prior year, the firm earned $7.27 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that McKesson will post 32.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 11,259 shares of company stock worth $6,635,492 over the last ninety days. Company insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Several hedge funds have recently made changes to their positions in MCK. Centaurus Financial Inc. boosted its holdings in McKesson by 23.4% during the second quarter. Centaurus Financial Inc. now owns 348 shares of the company’s stock worth $203,000 after buying an additional 66 shares in the last quarter. Anchor Investment Management LLC boosted its stake in shares of McKesson by 3.1% during the 2nd quarter. Anchor Investment Management LLC now owns 8,768 shares of the company’s stock worth $5,121,000 after acquiring an additional 263 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of McKesson by 206.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 460 shares of the company’s stock worth $269,000 after acquiring an additional 310 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after purchasing an additional 1,393 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of McKesson during the second quarter valued at $12,331,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Company Profile

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.