McKesson (NYSE:MCK) was upgraded by Jefferies Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage currently has a $205.00 target price on the stock. Jefferies Group’s target price would suggest a potential upside of 16.00% from the company’s previous close. Jefferies Group also issued estimates for McKesson’s Q3 2018 earnings at $2.91 EPS, Q4 2018 earnings at $3.58 EPS, FY2018 earnings at $12.23 EPS and FY2019 earnings at $14.12 EPS.
Other analysts have also issued research reports about the stock. Mizuho set a $168.00 price target on shares of McKesson and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Robert W. Baird restated a “buy” rating and issued a $200.00 price target on shares of McKesson in a research note on Wednesday, January 17th. Needham & Company LLC set a $179.00 price target on shares of McKesson and gave the stock a “buy” rating in a research note on Monday, October 16th. Cowen upgraded shares of McKesson from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $176.00 to $189.00 in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $170.00 target price on shares of McKesson in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. McKesson presently has a consensus rating of “Hold” and a consensus target price of $178.68.
Shares of McKesson (NYSE:MCK) traded up $1.52 during trading hours on Wednesday, hitting $176.72. 1,334,537 shares of the company were exchanged, compared to its average volume of 1,590,000. 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 $36,840.00, a price-to-earnings ratio of 8.37, a PEG ratio of 1.65 and a beta of 1.23. McKesson has a fifty-two week low of $133.82 and a fifty-two week high of $178.00.
McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to analyst estimates of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.94 earnings per share. analysts forecast that McKesson will post 12.29 earnings per share for the current fiscal year.
In other McKesson news, Chairman John H. Hammergren sold 65,000 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total transaction of $10,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC boosted its holdings in shares of McKesson by 64.2% during the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock valued at $1,027,000 after acquiring an additional 190 shares during the period. WFG Advisors LP boosted its holdings in shares of McKesson by 5.0% during the second quarter. WFG Advisors LP now owns 859 shares of the company’s stock valued at $141,000 after acquiring an additional 41 shares during the period. CWH Capital Management Inc. acquired a new position in shares of McKesson during the second quarter valued at $165,000. Wealthcare Advisory Partners LLC acquired a new position in shares of McKesson during the third quarter valued at $155,000. Finally, YorkBridge Wealth Partners LLC boosted its holdings in shares of McKesson by 9.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,291 shares of the company’s stock valued at $212,000 after acquiring an additional 116 shares during the period. 87.84% of the stock is owned by institutional investors.
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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.