McKesson (NYSE:MCK) Earns Buy (B) Rating from Weiss Ratings

McKesson (NYSE:MCK)‘s stock had its “buy (b)” rating reissued by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Leerink Partners upped their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Wells Fargo & Company upped their target price on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. upped their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Finally, Bank of America upped their target price on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $829.08.

McKesson Stock Performance

McKesson stock opened at $755.32 on Wednesday. The business’s 50-day simple moving average is $704.88 and its two-hundred day simple moving average is $704.72. The company has a market cap of $93.95 billion, a PE ratio of 30.12, a PEG ratio of 1.35 and a beta of 0.52. McKesson has a fifty-two week low of $492.39 and a fifty-two week high of $776.14.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.88 EPS. As a group, analysts predict that McKesson will post 32.77 EPS for the current fiscal year.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 19,371 shares of the company’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,560 shares of company stock valued at $30,438,602 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McKesson

A number of hedge funds have recently made changes to their positions in MCK. Brighton Jones LLC raised its holdings in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of McKesson by 20.3% during the first quarter. Farther Finance Advisors LLC now owns 2,526 shares of the company’s stock valued at $1,702,000 after acquiring an additional 427 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of McKesson by 12.5% in the first quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock valued at $2,393,000 after purchasing an additional 396 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of McKesson by 303.7% in the first quarter. SG Americas Securities LLC now owns 5,369 shares of the company’s stock valued at $3,613,000 after purchasing an additional 4,039 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of McKesson in the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.