2 weeks Ago By Defense World Staff
McKesson ( NYSE:MCK – Get Free Report ) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday. A number of other analysts have also issued reports on the stock.
Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Barclays lifted their price target on shares of McKesson from $596.00 to $616.
00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Citigroup lowered their price target on McKesson from $670.00 to $630.
00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Bank of America upped their target price on McKesson from $590.00 to $670.
00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. increased their price target on McKesson from $656.
00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock.
Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $613.36. View Our Latest Research Report on McKesson McKesson Stock Performance McKesson ( NYSE:MCK – Get Free Report ) last posted its quarterly earnings data on Wednesday, August 7th.
The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.
67. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.
53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.
57%. The business’s revenue was up 6.4% compared to the same quarter last year.
During the same quarter in the previous year, the business posted $7.27 earnings per share. Research analysts anticipate that McKesson will post 32.
07 earnings per share for the current year. Insider Transactions at McKesson In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Monday, August 5th.
The stock was sold at an average price of $626.03, for a total value of $2,349,490.59.
Following the completion of the transaction, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink .
Over the last 90 days, insiders have sold 11,259 shares of company stock worth $6,635,492. Insiders own 0.11% of the company’s stock.
Institutional Investors Weigh In On McKesson Hedge funds have recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new stake in shares of McKesson in the first quarter worth about $28,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson during the 1st quarter worth approximately $29,000.
Richardson Financial Services Inc. purchased a new position in shares of McKesson during the 4th quarter valued at approximately $31,000. Rise Advisors LLC acquired a new position in shares of McKesson in the 1st quarter valued at $40,000.
Finally, Carolinas Wealth Consulting LLC boosted its holdings in McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after buying an additional 24 shares in the last quarter.
85.07% of the stock is owned by hedge funds and other institutional investors. About McKesson ( Get Free Report ) 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.
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