McKesson Corporation (NYSE:MCK) received a $178.00 price objective from stock analysts at Needham & Company LLC in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 18.86% from the company’s current price.

MCK has been the subject of several other research reports. Jefferies Group LLC set a $165.00 target price on shares of McKesson Corporation and gave the stock a “hold” rating in a report on Wednesday, October 18th. BidaskClub downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised 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. TheStreet downgraded shares of McKesson Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Finally, Morgan Stanley downgraded shares of McKesson Corporation from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $184.00 to $172.00 in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. McKesson Corporation currently has an average rating of “Hold” and an average price target of $172.40.

McKesson Corporation (NYSE MCK) traded up 0.98% during midday trading on Tuesday, reaching $149.75. The company had a trading volume of 1,355,042 shares. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $169.29. The firm has a 50-day moving average price of $151.86 and a 200-day moving average price of $153.66. The company has a market capitalization of $31.49 billion, a price-to-earnings ratio of 6.79 and a beta of 1.17.

McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the 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 company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.50 EPS. Analysts expect that McKesson Corporation will post $12.06 EPS for the current fiscal year.

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In related news, CEO John H. Hammergren sold 100,000 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $153.51, for a total value of $15,351,000.00. Following the completion of the transaction, the chief executive officer now owns 165,000 shares of the company’s stock, valued at approximately $25,329,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marie L/Ca Knowles sold 1,083 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 952,066 shares of company stock valued at $145,736,987. 1.20% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. American Beacon Advisors Inc. purchased a new stake in McKesson Corporation in the 1st quarter worth about $100,000. Captrust Financial Advisors purchased a new stake in McKesson Corporation in the 2nd quarter worth about $107,000. Archford Capital Strategies LLC raised its position in McKesson Corporation by 52.8% in the 1st quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after purchasing an additional 268 shares during the period. WFG Advisors LP raised its position in McKesson Corporation by 123.5% in the 1st quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after purchasing an additional 452 shares during the period. Finally, Orrstown Financial Services Inc. raised its position in McKesson Corporation by 6.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after purchasing an additional 43 shares during the period. 85.29% of the stock is owned by hedge funds and other institutional investors.

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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