Jefferies Group LLC Analysts Give McKesson Corporation (MCK) a $165.00 Price Target
McKesson Corporation (NYSE:MCK) has been given a $165.00 price objective by equities researchers at Jefferies Group LLC in a report released on Wednesday. The firm presently has a “hold” rating on the stock. Jefferies Group LLC’s target price would suggest a potential upside of 12.85% from the company’s previous close.
Other research analysts have also recently issued reports about the company. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price on the stock. in a research report on Monday, July 17th. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Wednesday, July 12th. Needham & Company LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research report on Friday, September 8th. TheStreet cut McKesson Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Finally, Morgan Stanley cut McKesson Corporation from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $184.00 to $172.00 in a research report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. McKesson Corporation currently has a consensus rating of “Hold” and a consensus price target of $172.45.
Shares of McKesson Corporation (NYSE:MCK) opened at 146.21 on Wednesday. The company has a 50-day moving average price of $151.76 and a 200-day moving average price of $153.51. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $169.29. The company has a market capitalization of $30.74 billion, a PE ratio of 6.63 and a beta of 1.17.
McKesson Corporation (NYSE:MCK) last announced its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by ($0.35). The firm had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.50 earnings per share. Analysts predict that McKesson Corporation will post $12.06 earnings per share for the current year.
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In related news, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. Insiders have sold a total of 952,066 shares of company stock worth $145,736,987 in the last three months. 1.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. McQueen Ball & Associates Inc. raised its stake in McKesson Corporation by 3.7% during the 3rd quarter. McQueen Ball & Associates Inc. now owns 12,725 shares of the company’s stock valued at $1,955,000 after purchasing an additional 455 shares during the period. Eqis Capital Management Inc. raised its stake in McKesson Corporation by 13.4% during the 3rd quarter. Eqis Capital Management Inc. now owns 7,347 shares of the company’s stock valued at $1,129,000 after purchasing an additional 868 shares during the period. Perpetual Ltd raised its stake in McKesson Corporation by 12.0% during the 2nd quarter. Perpetual Ltd now owns 69,900 shares of the company’s stock valued at $11,501,000 after purchasing an additional 7,500 shares during the period. MPS Loria Financial Planners LLC bought a new stake in McKesson Corporation during the 2nd quarter valued at approximately $408,000. Finally, Frontier Investment Mgmt Co. bought a new stake in McKesson Corporation during the 2nd quarter valued at approximately $3,434,000. 85.16% of the stock is currently owned by institutional investors.
About McKesson Corporation
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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