McKesson (NYSE:MCK) had its target price decreased by investment analysts at Royal Bank of Canada to $158.00 in a research note issued to investors on Friday. The firm currently has a “market perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 18.44% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Bank of America decreased their price target on McKesson from $179.00 to $172.00 and set a “buy” rating on the stock in a research report on Wednesday, April 11th. Barclays started coverage on McKesson in a research report on Thursday, March 8th. They set an “equal weight” rating and a $165.00 price target on the stock. Leerink Swann set a $160.00 price target on McKesson and gave the stock a “market perform” rating in a research report on Tuesday, May 29th. Finally, ValuEngine lowered McKesson from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $174.70.
McKesson opened at $133.40 on Friday, according to MarketBeat.com. The company has a market cap of $27.40 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 1.27 and a beta of 1.26. McKesson has a one year low of $131.43 and a one year high of $178.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 1.01.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 24th. The company reported $3.49 EPS for the quarter, missing the Zacks’ consensus estimate of $3.56 by ($0.07). The business had revenue of $51.63 billion for the quarter, compared to the consensus estimate of $51.36 billion. McKesson had a return on equity of 23.55% and a net margin of 0.03%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $3.41 earnings per share. analysts forecast that McKesson will post 13.33 earnings per share for the current fiscal year.
In other McKesson news, SVP Erin M. Lampert sold 868 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $142.00, for a total value of $123,256.00. Following the transaction, the senior vice president now directly owns 64 shares in the company, valued at approximately $9,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of McKesson by 1.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 85,203 shares of the company’s stock valued at $13,287,000 after purchasing an additional 1,537 shares during the period. Braun Bostich & Associates Inc. acquired a new position in shares of McKesson in the 1st quarter valued at $335,000. LPL Financial LLC lifted its stake in shares of McKesson by 7.6% in the 4th quarter. LPL Financial LLC now owns 39,623 shares of the company’s stock valued at $6,179,000 after purchasing an additional 2,795 shares during the period. Element Capital Management LLC acquired a new position in shares of McKesson in the 1st quarter valued at $808,000. Finally, Lake Street Advisors Group LLC acquired a new position in shares of McKesson in the 4th quarter valued at $317,000. Hedge funds and other institutional investors own 90.17% of the company’s stock.
McKesson Company Profile
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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