McKesson (NYSE:MCK) Upgraded to Strong-Buy at StockNews.com

McKesson (NYSE:MCK) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

MCK has been the topic of a number of other reports. Morgan Stanley upped their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group raised their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Argus lifted their price objective on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Citigroup increased their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $536.71.

McKesson Price Performance

NYSE:MCK opened at $528.86 on Friday. The company has a market cap of $69.50 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.41 and a beta of 0.45. McKesson has a 1 year low of $352.34 and a 1 year high of $544.81. The stock’s 50 day simple moving average is $530.38 and its two-hundred day simple moving average is $492.60.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $6.90 EPS. As a group, analysts anticipate that McKesson will post 27.59 EPS for the current year.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Institutional Trading of McKesson

Institutional investors have recently modified their holdings of the company. McClarren Financial Advisors Inc. grew its stake in McKesson by 44.7% during the 1st quarter. McClarren Financial Advisors Inc. now owns 537 shares of the company’s stock worth $288,000 after buying an additional 166 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of McKesson by 16.4% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the company’s stock worth $320,000 after acquiring an additional 84 shares during the last quarter. Signaturefd LLC increased its holdings in shares of McKesson by 7.2% during the first quarter. Signaturefd LLC now owns 4,099 shares of the company’s stock valued at $2,200,000 after acquiring an additional 277 shares in the last quarter. Catalina Capital Group LLC purchased a new position in shares of McKesson in the 1st quarter valued at approximately $308,000. Finally, Mediolanum International Funds Ltd acquired a new stake in McKesson in the 1st quarter worth approximately $12,034,000. 85.07% of the stock is currently owned by institutional investors.

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.