McKesson (NYSE:MCK) Downgraded by StockNews.com to “Buy”

StockNews.com downgraded shares of McKesson (NYSE:MCK) from a strong-buy rating to a buy rating in a report released on Tuesday.

A number of other research analysts have also issued reports on the company. Evercore ISI lifted their target price on McKesson from $590.00 to $600.00 and gave the stock an outperform rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $547.00 to $545.00 and set a buy rating for the company in a research note on Thursday, May 9th. UBS Group raised their price objective on McKesson from $620.00 to $630.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Argus lifted their price target on McKesson from $570.00 to $670.00 and gave the stock a buy rating in a research report on Monday, June 24th. Finally, Robert W. Baird lifted their price objective on McKesson from $603.00 to $671.00 and gave the stock an outperform rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has an average rating of Moderate Buy and a consensus price target of $590.47.

McKesson Trading Down 0.3 %

NYSE:MCK opened at $584.83 on Tuesday. The firm has a market cap of $75.99 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. The company’s 50-day moving average is $567.05 and its two-hundred day moving average is $526.51. McKesson has a 12-month low of $395.30 and a 12-month high of $612.17.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $7.19 EPS. On average, equities research analysts forecast that McKesson will post 31.54 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is 11.08%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Britt J. Vitalone sold 12,752 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the sale, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,814 shares of company stock valued at $14,511,649. Company insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Hedge funds have recently added to or reduced their stakes in the company. First Western Trust Bank grew its position in shares of McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after acquiring an additional 18 shares during the period. Lindbrook Capital LLC raised its position in shares of McKesson by 1.7% during the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after buying an additional 19 shares in the last quarter. KCM Investment Advisors LLC raised its position in McKesson by 1.4% in the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after purchasing an additional 19 shares during the period. TCI Wealth Advisors Inc. grew its stake in McKesson by 1.3% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company’s stock worth $822,000 after acquiring an additional 19 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC boosted its stake in shares of McKesson by 1.4% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock valued at $700,000 after purchasing an additional 21 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.