McKesson Corp. (MCK) Downgraded to “Underperform” at Credit Suisse Group AG
Credit Suisse Group AG cut shares of McKesson Corp. (NYSE:MCK) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday. They currently have $131.00 price target on the stock, down from their prior price target of $150.00.
Other research analysts have also recently issued research reports about the stock. Citigroup Inc. lifted their price target on shares of McKesson Corp. from $215.00 to $225.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Standpoint Research upgraded shares of McKesson Corp. from a hold rating to a buy rating and set a $156.00 price target on the stock in a research note on Friday, October 28th. Mizuho upgraded shares of McKesson Corp. from a neutral rating to a buy rating and set a $147.00 price target on the stock in a research note on Wednesday, November 9th. Argus reiterated a hold rating on shares of McKesson Corp. in a research note on Monday, September 19th. Finally, Zacks Investment Research cut shares of McKesson Corp. from a buy rating to a hold rating in a research note on Monday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $189.50.
McKesson Corp. (NYSE:MCK) opened at 142.83 on Wednesday. The company has a 50-day moving average of $147.23 and a 200 day moving average of $174.41. McKesson Corp. has a 12 month low of $114.53 and a 12 month high of $202.20. The stock has a market capitalization of $32.29 billion, a price-to-earnings ratio of 17.12 and a beta of 1.02.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 27th. The company reported $2.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.05 by $0.11. The business had revenue of $49.96 billion for the quarter, compared to analysts’ expectations of $24.16 billion. McKesson Corp. had a return on equity of 29.85% and a net margin of 0.99%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.31 EPS. On average, equities research analysts anticipate that McKesson Corp. will post $12.53 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Thursday, December 1st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.78%. McKesson Corp.’s dividend payout ratio is presently 13.45%.
In other McKesson Corp. news, SVP Erin M. Lampert sold 921 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $123.99, for a total value of $114,194.79. Following the completion of the sale, the senior vice president now directly owns 1,765 shares of the company’s stock, valued at approximately $218,842.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan R. Salka acquired 1,000 shares of the stock in a transaction on Wednesday, November 2nd. The stock was bought at an average cost of $136.35 per share, with a total value of $136,350.00. The disclosure for this purchase can be found here. Corporate insiders own 1.15% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Kelman Lazarov Inc. bought a new stake in McKesson Corp. during the second quarter valued at about $115,000. Welch Group LLC bought a new stake in McKesson Corp. during the second quarter valued at about $126,000. Seven Eight Capital LLC bought a new stake in McKesson Corp. during the first quarter valued at about $110,000. SRB Corp boosted its stake in McKesson Corp. by 3.4% in the third quarter. SRB Corp now owns 814 shares of the company’s stock valued at $136,000 after buying an additional 27 shares during the period. Finally, Winslow Evans & Crocker Inc. boosted its stake in McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock valued at $152,000 after buying an additional 101 shares during the period. 86.25% of the stock is owned by institutional investors.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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