McKesson Corp. Receives New Coverage from Analysts at Sterne Agee (MCK)
Investment analysts at Sterne Agee began coverage on shares of McKesson Corp. (NYSE:MCK) in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $164.00 price target on the stock. Sterne Agee’s target price indicates a potential upside of 24.61% from the stock’s previous close.
The analysts wrote, “Possessing nearly top market share in all segments in which McKesson operates, the company, we believe, possesses superior scale to offer its clients market-leading prices and savings. To us, this suggests continued market-leading growth rates and robust earnings growth. Initiate with Buy rating and $164 price target.”
McKesson Corp. (NYSE:MCK) traded up 0.36% on Wednesday, hitting $132.09. 647,337 shares of the company’s stock traded hands. McKesson Corp. has a one year low of $84.65 and a one year high of $131.89. The stock has a 50-day moving average of $124.0 and a 200-day moving average of $115.2. The company has a market cap of $30.199 billion and a P/E ratio of 22.61.
McKesson Corp. (NYSE:MCK) last announced its earnings results on Thursday, July 25th. The company reported $2.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.71 by $0.36. The company had revenue of $32.20 billion for the quarter, compared to the consensus estimate of $32.60 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that McKesson Corp. will post $8.31 EPS for the current fiscal year.
A number of other firms have also recently commented on MCK. Analysts at Zacks upgraded shares of McKesson Corp. (NYSE:MCK) from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, August 5th. They now have a $148.00 price target on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of McKesson Corp. (NYSE:MCK) from $130.00 to $135.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. Finally, analysts at ISI Group raised their price target on shares of McKesson Corp. (NYSE:MCK) from $128.00 to $134.00 in a research note to investors on Friday, July 26th. They now have a “buy” rating on the stock.
Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $129.67.
In other McKesson Corp. news, EVP Paul C. Julian unloaded 84,000 shares of McKesson Corp. stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $126.20, for a total transaction of $10,600,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
McKesson Corporation delivers pharmaceuticals, medical supplies and healthcare information technologies.
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