Robert W. Baird Reiterates Buy Rating for McKesson (MCK)
McKesson (NYSE:MCK)‘s stock had its “buy” rating reaffirmed by equities researchers at Robert W. Baird in a research report issued to clients and investors on Wednesday. They presently have a $200.00 target price on the stock. Robert W. Baird’s price target would indicate a potential upside of 15.72% from the stock’s previous close.
A number of other research analysts also recently issued reports on MCK. Royal Bank of Canada assumed coverage on McKesson in a report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 price objective for the company. Cowen upgraded McKesson from a “market perform” rating to an “outperform” rating and raised their price target for the company from $176.00 to $189.00 in a research note on Tuesday, October 10th. Needham & Company LLC set a $179.00 price target on McKesson and gave the company a “buy” rating in a research note on Monday, October 16th. Jefferies Group set a $165.00 price target on McKesson and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, Mizuho set a $168.00 price target on McKesson and gave the company a “hold” rating in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $175.86.
McKesson (NYSE MCK) traded up $2.17 during trading hours on Wednesday, hitting $172.83. The company had a trading volume of 1,728,844 shares, compared to its average volume of 1,640,000. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.05. The company has a market capitalization of $36,030.00, a P/E ratio of 8.19, a PEG ratio of 1.70 and a beta of 1.23. McKesson has a fifty-two week low of $133.82 and a fifty-two week high of $173.84.
In other news, Chairman John H. Hammergren sold 65,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was 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 is available through this hyperlink. Company insiders own 1.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IHT Wealth Management LLC lifted its holdings in McKesson by 64.2% during the 2nd quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock worth $1,027,000 after purchasing an additional 190 shares during the last quarter. WFG Advisors LP lifted its holdings in McKesson by 5.0% during the 2nd quarter. WFG Advisors LP now owns 859 shares of the company’s stock worth $141,000 after purchasing an additional 41 shares during the last quarter. CWH Capital Management Inc. acquired a new stake in McKesson during the 2nd quarter worth approximately $165,000. Wealthcare Advisory Partners LLC acquired a new stake in McKesson during the 3rd quarter worth approximately $155,000. Finally, BRYN MAWR TRUST Co acquired a new stake in McKesson during the 2nd quarter worth approximately $208,000. 87.91% of the stock is owned by institutional investors.
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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.
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