McKesson (NYSE:MCK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of McKesson (NYSE:MCK) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

Several other analysts have also weighed in on the stock. Barclays lifted their price objective on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Leerink Partners increased their target price on shares of McKesson from $1,030.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. Argus raised their price target on shares of McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Bank of America lifted their price target on shares of McKesson from $950.00 to $1,050.00 in a research note on Thursday, August 6th. Finally, TD Cowen lifted their price target on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $990.35.

McKesson Stock Performance

Shares of MCK stock opened at $1,012.03 on Friday. The company has a market cap of $117.99 billion, a P/E ratio of 24.62, a PEG ratio of 2.00 and a beta of 0.30. The stock has a 50 day simple moving average of $900.34 and a two-hundred day simple moving average of $838.37. McKesson has a fifty-two week low of $723.68 and a fifty-two week high of $1,014.99.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts predict that McKesson will post 44.71 earnings per share for the current year.

Insider Activity

In other news, EVP Francisco Fraga sold 800 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the transaction, the executive vice president directly owned 5,423 shares of the company’s stock, valued at $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. Insiders sold a total of 1,212 shares of company stock worth $1,164,182 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of McKesson

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of McKesson during the second quarter valued at $8,156,743,000. Bank of America Corp DE purchased a new position in shares of McKesson in the 2nd quarter worth about $998,896,000. Legal & General Group Plc purchased a new position in shares of McKesson in the 2nd quarter worth about $656,566,000. The Manufacturers Life Insurance Company purchased a new position in shares of McKesson in the 2nd quarter worth about $651,462,000. Finally, Bank of New York Mellon Corp bought a new position in McKesson in the 2nd quarter worth about $599,060,000. Institutional investors own 85.07% of the company’s stock.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.