Bank of America Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

McKesson (NYSE:MCK) had its price objective lowered by equities researchers at Bank of America from $1,040.00 to $1,000.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 16.23% from the company’s current price.

Several other analysts have also recently issued reports on MCK. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Barclays upped their price target on McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Raymond James Financial set a $970.00 price target on McKesson in a report on Thursday, March 5th. Finally, Robert W. Baird set a $968.00 price objective on McKesson in a research report on Wednesday, January 14th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $970.93.

McKesson Trading Down 2.7%

MCK stock traded down $23.94 during midday trading on Monday, reaching $860.34. The stock had a trading volume of 91,394 shares, compared to its average volume of 744,988. The company’s fifty day simple moving average is $912.57 and its 200 day simple moving average is $846.69. The company has a market cap of $105.38 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.26 and a beta of 0.42. McKesson has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.19 by $0.15. The business had revenue of $106.16 billion during the quarter, compared to analyst estimates of $105.98 billion. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.03 earnings per share. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. Sell-side analysts predict that McKesson will post 32.77 EPS for the current year.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $955.00, for a total transaction of $313,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 190 shares of McKesson stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total transaction of $179,550.00. Following the sale, the executive vice president directly owned 2,989 shares in the company, valued at approximately $2,824,605. The trade was a 5.98% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,592 shares of company stock worth $3,518,555. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On McKesson

Large investors have recently modified their holdings of the business. J.W. Cole Advisors Inc. raised its holdings in shares of McKesson by 35.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock valued at $3,931,000 after buying an additional 1,329 shares during the period. Cullen Investment Group LTD. boosted its holdings in McKesson by 550.4% during the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after acquiring an additional 3,952 shares during the period. Private Wealth Partners LLC boosted its holdings in McKesson by 5.6% during the 3rd quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock valued at $24,598,000 after acquiring an additional 1,682 shares during the period. AlphaQuest LLC grew its position in McKesson by 91.2% in the 3rd quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock valued at $1,365,000 after acquiring an additional 843 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after purchasing an additional 36,451 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.