McKesson (MCK) Rating Increased to Sell at ValuEngine

McKesson (NYSE:MCK) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Monday, February 4th.

A number of other equities research analysts have also commented on MCK. Zacks Investment Research upgraded McKesson from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Barclays decreased their price target on McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Friday, October 26th. Morgan Stanley decreased their price objective on McKesson from $142.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Monday, December 3rd. Deutsche Bank upgraded McKesson from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a research report on Friday, January 25th. Finally, UBS Group assumed coverage on McKesson in a research report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $137.99.

Shares of MCK stock traded down $2.63 during trading hours on Monday, hitting $124.53. The company had a trading volume of 1,549,119 shares, compared to its average volume of 1,566,529. McKesson has a 12 month low of $106.11 and a 12 month high of $160.87. The firm has a market cap of $25.22 billion, a P/E ratio of 9.87, a P/E/G ratio of 1.37 and a beta of 1.25. The company has a current ratio of 1.02, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, January 31st. The company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.22. The company had revenue of $56.21 billion for the quarter, compared to analyst estimates of $55.27 billion. McKesson had a positive return on equity of 27.83% and a negative net margin of 0.15%. During the same period in the prior year, the company posted $3.41 EPS. Sell-side analysts forecast that McKesson will post 13.55 EPS for the current year.

In other news, EVP Lori A. Schechter sold 7,700 shares of the stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $122.96, for a total value of $946,792.00. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $1,229,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

A number of institutional investors have recently modified their holdings of MCK. Atria Investments LLC raised its stake in McKesson by 23.5% during the 3rd quarter. Atria Investments LLC now owns 10,270 shares of the company’s stock worth $1,362,000 after buying an additional 1,956 shares during the period. We Are One Seven LLC bought a new position in shares of McKesson in the 3rd quarter valued at about $506,000. State of Alaska Department of Revenue grew its holdings in shares of McKesson by 2.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,454 shares of the company’s stock valued at $4,171,000 after acquiring an additional 608 shares in the last quarter. Trust Department MB Financial Bank N A grew its holdings in shares of McKesson by 1.0% in the 3rd quarter. Trust Department MB Financial Bank N A now owns 41,256 shares of the company’s stock valued at $5,473,000 after acquiring an additional 428 shares in the last quarter. Finally, Midas Management Corp grew its holdings in shares of McKesson by 78.6% in the 3rd quarter. Midas Management Corp now owns 11,365 shares of the company’s stock valued at $1,507,000 after acquiring an additional 5,000 shares in the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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