McKesson Corporation (NYSE:MCK) was upgraded by Needham & Company LLC from a “hold” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat reports. The brokerage currently has a $179.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 14.06% from the stock’s previous close.

A number of other brokerages also recently commented on MCK. BidaskClub downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Wednesday, July 12th. Vetr upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a report on Thursday, May 25th. J P Morgan Chase & Co upgraded shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 target price for the company in a report on Tuesday, May 23rd. Finally, Leerink Swann set a $140.00 target price on shares of McKesson Corporation and gave the stock a “hold” rating in a report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. McKesson Corporation presently has an average rating of “Hold” and a consensus price target of $172.31.

Shares of McKesson Corporation (NYSE MCK) traded up 0.71% on Friday, reaching $156.94. 1,437,073 shares of the company’s stock traded hands. The firm has a market cap of $33.00 billion, a P/E ratio of 7.12 and a beta of 1.16. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $181.82. The stock has a 50-day moving average of $153.98 and a 200 day moving average of $152.81.

McKesson Corporation (NYSE:MCK) last announced its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. The firm had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 earnings per share. On average, equities research analysts expect that McKesson Corporation will post $12.07 earnings per share for the current year.

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In related news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,066 shares of company stock worth $473,627. 1.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MCK. American Beacon Advisors Inc. purchased a new stake in McKesson Corporation in the first quarter valued at approximately $100,000. Captrust Financial Advisors purchased a new stake in McKesson Corporation in the second quarter valued at approximately $107,000. Archford Capital Strategies LLC boosted its position in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after buying an additional 268 shares during the last quarter. WFG Advisors LP boosted its position in McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after buying an additional 452 shares during the last quarter. Finally, Orrstown Financial Services Inc. boosted its position in McKesson Corporation by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 85.28% of the company’s stock.

McKesson Corporation Company Profile

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

Analyst Recommendations for McKesson Corporation (NYSE:MCK)

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