McKesson Corp. (MCK) – Research Analysts’ Recent Ratings Changes
McKesson Corp. (NYSE: MCK) recently received a number of ratings updates from brokerages and research firms:
- 9/19/2016 – McKesson Corp. had its “hold” rating reaffirmed by analysts at Argus.
- 9/16/2016 – McKesson Corp. was downgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating. They now have a $189.00 price target on the stock, down previously from $210.00.
- 9/16/2016 – McKesson Corp. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating.
- 9/1/2016 – McKesson Corp. had its “outperform” rating reaffirmed by analysts at Leerink Swann. They now have a $230.00 price target on the stock.
- 8/11/2016 – McKesson Corp. had its price target raised by analysts at Mizuho from $174.00 to $197.00. They now have a “neutral” rating on the stock.
- 8/9/2016 – McKesson Corp. had its price target raised by analysts at JPMorgan Chase & Co. from $210.00 to $221.00. They now have an “overweight” rating on the stock.
- 8/1/2016 – McKesson Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “McKesson reported mixed results for the fiscal first quarter, with earnings surpassing estimates but revenues missing the same. However, the operating performance of Celesio was disappointing. Management stated that while some reimbursement cuts were expected, there were more unanticipated cuts made effective by the UK government in April and June. These cuts have impacted the first quarter and will continue to do so through the rest of the year. Weaker generic pricing trends will significantly impact the first half of fiscal 2017. Pricing of branded pharmaceuticals is projected to be modestly below the fiscal 2016 levels. Nevertheless, McKesson’s acquisitions of Biologics, Vantage Oncology and UDG Healthcare have strengthened its portfolio. The impending Rexall transaction (scheduled to close later in calendar year 2016) will add to its strength. Moreover, McKesson’s decision to separate the Technology business is a definite positive.”
- 7/28/2016 – McKesson Corp. had its price target raised by analysts at Citigroup Inc. from $215.00 to $225.00. They now have a “buy” rating on the stock.
- 7/28/2016 – McKesson Corp. had its price target raised by analysts at Morgan Stanley from $199.00 to $211.00. They now have an “overweight” rating on the stock.
Shares of McKesson Corp. (NYSE:MCK) traded up 0.97% during midday trading on Wednesday, reaching $166.40. The company’s stock had a trading volume of 1,865,520 shares. McKesson Corp. has a 12-month low of $148.29 and a 12-month high of $202.20. The company has a market capitalization of $37.56 billion, a P/E ratio of 17.28 and a beta of 0.95. The company’s 50-day moving average price is $185.20 and its 200 day moving average price is $178.76.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.33 by $0.17. The firm had revenue of $49.73 billion for the quarter, compared to analyst estimates of $50.32 billion. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.14 EPS. On average, equities research analysts forecast that McKesson Corp. will post $13.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, August 30th. McKesson Corp.’s dividend payout ratio is presently 11.64%.
In other McKesson Corp. news, CFO James A. Beer sold 5,500 shares of the stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $199.00, for a total value of $1,094,500.00. Following the completion of the sale, the chief financial officer now owns 12,412 shares in the company, valued at approximately $2,469,988. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman John H. Hammergren sold 100,500 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $184.22, for a total value of $18,514,110.00. Following the completion of the sale, the chairman now owns 100,500 shares of the company’s stock, valued at approximately $18,514,110. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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