ValuEngine Upgrades McKesson (NYSE:MCK) to Sell

McKesson (NYSE:MCK) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Monday, October 29th.

Several other brokerages also recently commented on MCK. Mizuho reissued a “hold” rating and set a $133.00 price objective on shares of McKesson in a research report on Sunday, August 12th. Jefferies Financial Group reissued a “buy” rating and set a $160.00 price objective on shares of McKesson in a research report on Friday, July 27th. Royal Bank of Canada set a $155.00 price objective on shares of McKesson and gave the company a “hold” rating in a research report on Friday, October 26th. Citigroup cut their price objective on shares of McKesson from $160.00 to $2.86 and set a “buy” rating on the stock in a research report on Friday, July 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $150.26.

NYSE MCK traded down $0.74 during trading on Monday, hitting $121.81. The company had a trading volume of 1,258,650 shares, compared to its average volume of 1,666,338. The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $23.94 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05. McKesson has a one year low of $117.19 and a one year high of $178.86.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.28 by $0.32. The company had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. McKesson had a net margin of 0.06% and a return on equity of 26.55%. On average, sell-side analysts predict that McKesson will post 13.41 earnings per share for the current year.

In other news, Director N Anthony Coles sold 1,350 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction of $173,731.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its holdings in shares of McKesson by 7.0% in the third quarter. Morgan Stanley now owns 664,384 shares of the company’s stock worth $88,132,000 after buying an additional 43,589 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of McKesson by 1.6% in the third quarter. Legal & General Group Plc now owns 1,200,128 shares of the company’s stock worth $159,197,000 after buying an additional 18,500 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of McKesson by 14,640.7% in the third quarter. Rehmann Capital Advisory Group now owns 594,049 shares of the company’s stock worth $4,478,000 after buying an additional 590,019 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its holdings in shares of McKesson by 171.7% in the third quarter. Paradigm Asset Management Co. LLC now owns 6,250 shares of the company’s stock worth $829,000 after buying an additional 3,950 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of McKesson by 48.8% in the third quarter. Nordea Investment Management AB now owns 3,300,839 shares of the company’s stock worth $437,856,000 after buying an additional 1,082,398 shares during the last quarter. 89.97% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

Further Reading: Growth Stocks

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Analyst Recommendations for McKesson (NYSE:MCK)

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