Investment analysts at Evercore ISI began coverage on shares of McKesson (NYSE:MCK) in a report released on Thursday, January 4th, Marketbeat reports. The firm set an “outperform” rating and a $179.00 price target on the stock. Evercore ISI’s price target suggests a potential upside of 7.85% from the company’s current price.
A number of other analysts also recently issued reports on the stock. Needham & Company LLC set a $178.00 price target on shares of McKesson and gave the stock a “buy” rating in a report on Tuesday, October 24th. Credit Suisse Group reaffirmed an “underperform” rating and set a $130.00 price objective (down previously from $155.00) on shares of McKesson in a research report on Thursday, November 9th. Deutsche Bank started coverage on shares of McKesson in a research report on Monday, December 4th. They set a “buy” rating and a $175.00 price objective for the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $170.00 price objective on shares of McKesson in a research report on Friday, October 27th. Finally, Morgan Stanley cut shares of McKesson from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $184.00 to $172.00 in a research report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. McKesson currently has an average rating of “Hold” and an average price target of $174.64.
Shares of McKesson (NYSE:MCK) traded up $3.67 during midday trading on Thursday, hitting $165.97. 856,476 shares of the stock were exchanged, compared to its average volume of 1,452,225. The firm has a market cap of $34,450.00, a P/E ratio of 7.86, a P/E/G ratio of 1.61 and a beta of 1.23. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. McKesson has a fifty-two week low of $133.82 and a fifty-two week high of $169.29.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.94 EPS. equities research analysts forecast that McKesson will post 12.23 earnings per share for the current fiscal year.
In other news, Chairman John H. Hammergren sold 65,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total value of $10,400,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors acquired a new stake in McKesson during the 2nd quarter worth $107,000. Harvest Fund Management Co. Ltd acquired a new stake in McKesson during the 2nd quarter worth $125,000. WFG Advisors LP raised its stake in McKesson by 5.0% during the 2nd quarter. WFG Advisors LP now owns 859 shares of the company’s stock worth $141,000 after acquiring an additional 41 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in McKesson during the 3rd quarter worth $155,000. Finally, CWH Capital Management Inc. acquired a new stake in McKesson during the 2nd quarter worth $165,000. Institutional investors and hedge funds own 87.88% of the company’s stock.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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