Stock analysts at Evercore ISI initiated coverage on shares of McKesson (NYSE:MCK) in a research note issued on Thursday, The Fly reports. The firm set an “outperform” rating on the stock.
MCK has been the topic of several other research reports. Royal Bank of Canada began coverage on shares of McKesson in a research report on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 price target on the stock. Jefferies Group set a $165.00 target price on shares of McKesson and gave the stock a “hold” rating in a report on Wednesday, October 18th. Cowen raised shares of McKesson from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $176.00 to $189.00 in a report on Tuesday, October 10th. ValuEngine lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Needham & Company LLC set a $179.00 target price on shares of McKesson and gave the stock a “buy” rating in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. McKesson has an average rating of “Hold” and an average price target of $173.92.
McKesson (NYSE:MCK) traded down $2.24 during midday trading on Thursday, hitting $156.76. 1,589,100 shares of the stock traded hands, compared to its average volume of 1,199,500. McKesson has a one year low of $133.82 and a one year high of $169.29. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $32,320.00, a price-to-earnings ratio of 7.43, a P/E/G ratio of 1.63 and a beta of 1.23.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.50. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The company had revenue of $52.06 billion for the quarter, compared to analyst estimates of $51.69 billion. During the same quarter in the previous year, the firm posted $2.94 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. equities research analysts expect that McKesson will post 12.19 earnings per share for the current fiscal year.
In other news, Chairman John H. Hammergren sold 65,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $160.00, for a total value of $10,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of McKesson by 2,026.2% during the 1st quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock valued at $2,105,140,000 after acquiring an additional 13,531,173 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of McKesson during the 1st quarter valued at about $191,000. Parnassus Investments CA boosted its holdings in shares of McKesson by 310.0% during the 1st quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock valued at $620,727,000 after acquiring an additional 3,236,594 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of McKesson by 27.3% during the 3rd quarter. Capital Research Global Investors now owns 11,486,482 shares of the company’s stock valued at $1,915,371,000 after acquiring an additional 2,465,070 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of McKesson by 108.6% during the 2nd quarter. Boston Partners now owns 4,659,692 shares of the company’s stock valued at $869,731,000 after acquiring an additional 2,425,685 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.
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McKesson Company Profile
McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.