McKesson (NYSE:MCK) Stock Rating Upgraded by StockNews.com

McKesson (NYSE:MCK) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Several other equities research analysts have also recently issued reports on the stock. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Buy” and an average target price of $645.79.

McKesson Price Performance

Shares of NYSE MCK opened at $595.77 on Thursday. McKesson has a 1 year low of $464.42 and a 1 year high of $637.51. The firm has a 50-day simple moving average of $589.05 and a two-hundred day simple moving average of $562.81. The company has a market cap of $75.63 billion, a P/E ratio of 30.85, a PEG ratio of 1.29 and a beta of 0.52.

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

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Hedge funds have recently modified their holdings of the stock. Synergy Asset Management LLC acquired a new position in McKesson during the 4th quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter valued at $29,000. Crews Bank & Trust acquired a new position in shares of McKesson in the 4th quarter valued at $33,000. Wolff Wiese Magana LLC lifted its position in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.