McKesson Corp. Stock Rating Lowered by Bank of America Corp. (MCK)
McKesson Corp. (NYSE:MCK) was downgraded by equities researchers at Bank of America Corp. to an “underperform” rating in a research report issued on Thursday, Analyst Ratings News reports.
In other McKesson Corp. news, EVP Brian Scott Tyler unloaded 9,000 shares of the company’s stock on the open market in a transaction dated Friday, October 11th. The shares were sold at an average price of $138.51, for a total transaction of $1,246,590.00. Following the sale, the executive vice president now directly owns 5 shares of the company’s stock, valued at approximately $693. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of McKesson Corp. (NYSE:MCK) traded up 4.85% during mid-day trading on Thursday, hitting $149.99. 2,457,950 shares of the company’s stock traded hands. McKesson Corp. has a one year low of $84.65 and a one year high of $129.62. The stock has a 50-day moving average of $123.4 and a 200-day moving average of $114.6. The company has a market cap of $34.291 billion and a P/E ratio of 24.57.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings data on Thursday, October 24th. The company reported $2.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.03 by $0.24. The company had revenue of $33.00 billion for the quarter, compared to the consensus estimate of $32.16 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts expect that McKesson Corp. will post $8.33 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann upgraded shares of McKesson Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday. Separately, analysts at Sterne Agee reiterated a “buy” rating on shares of McKesson Corp. in a research note to investors on Monday, October 14th. They now have a $164.00 price target on the stock. Finally, analysts at ISI Group raised their price target on shares of McKesson Corp. from $135.00 to $152.00 in a research note to investors on Monday, October 14th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the stock. McKesson Corp. has an average rating of “Buy” and an average price target of $138.33.
McKesson Corporation delivers pharmaceuticals, medical supplies and healthcare information technologies.
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