McKesson (NYSE:MCK) had its target price dropped by equities research analysts at Bank of America from $179.00 to $172.00 in a research note issued to investors on Wednesday, April 11th. The brokerage presently has a “buy” rating on the stock. Bank of America’s target price points to a potential upside of 15.05% from the stock’s current price.
Several other brokerages have also commented on MCK. Needham & Company LLC lifted their target price on McKesson from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Robert W. Baird reissued a “buy” rating and issued a $200.00 price target on shares of McKesson in a report on Wednesday, January 17th. Mizuho set a $186.00 price target on McKesson and gave the stock a “hold” rating in a report on Wednesday, January 24th. Jefferies Group raised McKesson from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Wednesday, January 24th. Finally, Credit Suisse Group reaffirmed a “sell” rating and set a $130.00 target price on shares of McKesson in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. McKesson presently has an average rating of “Hold” and a consensus target price of $176.32.
Shares of NYSE:MCK opened at $149.50 on Wednesday. The stock has a market cap of $30,513.46, a P/E ratio of 12.88, a P/E/G ratio of 1.35 and a beta of 1.32. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63. McKesson has a one year low of $133.82 and a one year high of $178.86.
In other news, SVP Erin M. Lampert sold 1,413 shares of McKesson stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total transaction of $211,073.94. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hanson & Doremus Investment Management grew its stake in McKesson by 4.4% in the fourth quarter. Hanson & Doremus Investment Management now owns 7,964 shares of the company’s stock valued at $1,242,000 after purchasing an additional 339 shares in the last quarter. Legacy Capital Partners Inc. lifted its position in shares of McKesson by 11.5% in the fourth quarter. Legacy Capital Partners Inc. now owns 3,303 shares of the company’s stock worth $515,000 after buying an additional 340 shares during the last quarter. Clarkston Capital Partners LLC lifted its position in shares of McKesson by 0.7% in the fourth quarter. Clarkston Capital Partners LLC now owns 47,435 shares of the company’s stock worth $7,397,000 after buying an additional 350 shares during the last quarter. Knightsbridge Asset Management LLC lifted its position in shares of McKesson by 0.8% in the third quarter. Knightsbridge Asset Management LLC now owns 50,068 shares of the company’s stock worth $7,691,000 after buying an additional 388 shares during the last quarter. Finally, Eqis Capital Management Inc. lifted its position in shares of McKesson by 5.8% in the fourth quarter. Eqis Capital Management Inc. now owns 7,772 shares of the company’s stock worth $1,212,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.
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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