McKesson (NYSE:MCK) Stock Rating Lowered by Wall Street Zen

McKesson (NYSE:MCK) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

MCK has been the topic of a number of other reports. Citigroup reduced their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. UBS Group raised their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $960.53.

McKesson Trading Up 0.1%

McKesson stock opened at $764.38 on Friday. McKesson has a 1 year low of $637.00 and a 1 year high of $999.00. The company has a market cap of $89.49 billion, a PE ratio of 19.87, a PEG ratio of 1.26 and a beta of 0.31. The company’s 50-day moving average is $777.55 and its two-hundred day moving average is $840.29.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts forecast that McKesson will post 44.28 EPS for the current year.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 20,285 shares of company stock valued at $15,546,137. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. bought a new stake in shares of McKesson in the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the 4th quarter valued at about $26,000. State of Wyoming bought a new position in shares of McKesson during the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of McKesson during the 3rd quarter valued at about $33,000. Finally, Board of the Pension Protection Fund acquired a new position in shares of McKesson in the 4th quarter valued at approximately $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.