McKesson (NYSE:MCK) Raised to “Strong-Buy” at StockNews.com

McKesson (NYSE:MCK) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

A number of other equities research analysts also recently issued reports on the company. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $645.79.

McKesson Stock Performance

Shares of NYSE:MCK opened at $595.77 on Thursday. McKesson has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The business has a 50-day simple moving average of $589.05 and a two-hundred day simple moving average of $562.81. The firm has a market cap of $75.63 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. As a group, research analysts predict that McKesson will post 32.72 earnings per share for the current year.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MCK. Wolff Wiese Magana LLC lifted its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter worth about $31,000. Synergy Asset Management LLC bought a new stake in McKesson during the fourth quarter worth approximately $32,000. Finally, Crews Bank & Trust purchased a new stake in McKesson during the fourth quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

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.