McKesson (NYSE:MCK) Price Target Lowered to $1,000.00 at Bank of America

McKesson (NYSE:MCK) had its price target dropped by Bank of America from $1,040.00 to $1,000.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 16.23% from the stock’s current price.

A number of other research firms have also recently commented on MCK. TD Cowen increased their price target on McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Weiss Ratings lowered shares of McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. Wells Fargo & Company boosted their price objective on shares of McKesson from $914.00 to $925.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Finally, Leerink Partners restated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $970.93.

McKesson Price Performance

NYSE MCK traded down $23.94 during midday trading on Monday, hitting $860.34. 91,394 shares of the company traded hands, compared to its average volume of 744,988. The company has a market cap of $105.38 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.26 and a beta of 0.42. McKesson has a 52 week low of $637.00 and a 52 week high of $999.00. The company’s 50-day simple moving average is $912.57 and its 200-day simple moving average is $846.69.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $9.34 earnings per share for the quarter, beating analysts’ consensus estimates of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The company had revenue of $106.16 billion for the quarter, compared to the consensus estimate of $105.98 billion. During the same quarter last year, the company earned $8.03 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. On average, research analysts predict that McKesson will post 32.77 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the transaction, the director directly owned 301 shares of the company’s stock, valued at $282,900.87. The trade was a 53.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $3,214,530. The trade was a 45.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,592 shares of company stock worth $3,518,555 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. J. Derek Lewis & Associates Inc. purchased a new position in McKesson during the fourth quarter valued at $290,000. Hsbc Holdings PLC increased its stake in shares of McKesson by 6.0% during the fourth quarter. Hsbc Holdings PLC now owns 275,912 shares of the company’s stock worth $226,756,000 after purchasing an additional 15,594 shares in the last quarter. Cornerstone Planning LLC acquired a new position in shares of McKesson during the 4th quarter worth about $206,000. Rockefeller Capital Management L.P. raised its position in shares of McKesson by 42.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 26,557 shares of the company’s stock worth $21,786,000 after purchasing an additional 7,974 shares during the last quarter. Finally, World Investment Advisors lifted its stake in McKesson by 7.9% in the 4th quarter. World Investment Advisors now owns 7,104 shares of the company’s stock valued at $5,828,000 after buying an additional 521 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

About McKesson

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.