McKesson (MCK) Receives New Coverage from Analysts at Deutsche Bank
Investment analysts at Deutsche Bank began coverage on shares of McKesson (NYSE:MCK) in a research note issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $175.00 price target on the stock. Deutsche Bank’s price target suggests a potential upside of 14.31% from the stock’s previous close.
Several other brokerages have also weighed in on MCK. Morgan Stanley lowered shares of McKesson from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $184.00 to $172.00 in a research report on Thursday, September 14th. BidaskClub downgraded McKesson from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Needham & Company LLC upgraded McKesson from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Friday, September 8th. Mizuho set a $168.00 price target on McKesson and gave the company a “hold” rating in a report on Tuesday, October 24th. Finally, Royal Bank Of Canada began coverage on McKesson in a report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $174.31.
McKesson (NYSE:MCK) traded up $6.70 during midday trading on Monday, hitting $153.09. 2,866,406 shares of the stock were exchanged, compared to its average volume of 1,884,303. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $31,920.00, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.50 and a beta of 1.23. McKesson has a 1-year low of $133.82 and a 1-year high of $169.29.
In related news, CEO John H. Hammergren sold 99,000 shares of McKesson stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $153.89, for a total value of $15,235,110.00. Following the completion of the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at $25,391,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John H. Hammergren sold 100,000 shares of McKesson stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $153.53, for a total value of $15,353,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 949,900 shares of company stock valued at $145,403,445. Company insiders own 1.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors acquired a new stake in McKesson in the second quarter worth about $107,000. Harvest Fund Management Co. Ltd acquired a new stake in McKesson in the second quarter worth about $125,000. WFG Advisors LP increased its position in McKesson by 5.0% in the second quarter. WFG Advisors LP now owns 859 shares of the company’s stock worth $141,000 after purchasing an additional 41 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in McKesson in the third quarter worth about $155,000. Finally, Atwood & Palmer Inc. acquired a new stake in McKesson in the second quarter worth about $165,000. 88.10% of the stock is owned by institutional investors and hedge funds.
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.
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