November 23, 2016 - By Adrian Mccoy
In a a note made public on Wednesday, 23 November, Credit Suisse stated it was downgrading McKesson (MCK) stock rating from a “Neutral” to a “Underperform”.
Out of 6 analysts covering McKesson (MCK), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. $183.0 is the highest target while $153.0 is the lowest. The $166.67 average target is 19.74% above today’s ($139.19) stock price. McKesson has been the topic of 6 analyst reports since September 16, 2016 according to StockzIntelligence Inc. Leerink Swann downgraded the stock to “Mkt Perform” rating in Friday, October 28 report. The stock of McKesson Corporation (NYSE:MCK) earned “Hold” rating by Deutsche Bank on Friday, October 28. The firm has “Neutral” rating given on Monday, September 26 by Mizuho. The firm has “Buy” rating by Standpoint Research given on Friday, October 28. The firm earned “Neutral” rating on Friday, October 28 by Robert W. Baird. Goldman Sachs downgraded McKesson Corporation (NYSE:MCK) on Friday, September 16 to “Neutral” rating.
About 354,454 shares traded hands. McKesson Corporation (MCK) has declined 20.61% since April 21, 2016 and is downtrending. It has underperformed by 25.94% the S&P500.
Insitutional Activity: The institutional sentiment increased to 1.06 in 2016 Q2. Its up 0.23, from 0.83 in 2016Q1. The ratio improved, as 79 funds sold all McKesson Corporation shares owned while 353 reduced positions. 88 funds bought stakes while 269 increased positions. They now own 186.66 million shares or 6.92% less from 200.54 million shares in 2016Q1.
Guggenheim Capital Ltd Liability Com, a Illinois-based fund reported 281,380 shares. Wade G W has 0.42% invested in the company for 12,986 shares. The Pennsylvania-based Sei has invested 0.08% in McKesson Corporation (NYSE:MCK). Bluemountain Limited Com accumulated 94,154 shares or 0.41% of the stock. Madison Invest has 0.4% invested in the company for 102,660 shares. Advsrs Cap Management Limited Co accumulated 13,560 shares or 0.26% of the stock. Bartlett & Co Ltd Com holds 0.02% or 1,753 shares in its portfolio. The New York-based Deltec Asset Mngmt Limited Liability Corporation has invested 0.19% in McKesson Corporation (NYSE:MCK). Alpine Woods Capital Invsts Ltd Liability Company reported 81,400 shares or 0.91% of all its holdings. Virginia Retirement Systems Et Al, a Virginia-based fund reported 1,700 shares. Appleton Prns Ma has 0.06% invested in the company for 1,502 shares. Bb&T Secs Ltd has invested 0.08% of its portfolio in McKesson Corporation (NYSE:MCK). The New York-based Kings Point Management has invested 0.05% in McKesson Corporation (NYSE:MCK). Savings Bank Of Hawaii reported 6,066 shares or 0.12% of all its holdings. Fifth Third National Bank & Trust accumulated 219,827 shares or 0.35% of the stock.
Insider Transactions: Since May 24, 2016, the stock had 1 insider buy, and 7 selling transactions for $37.72 million net activity. The insider HAMMERGREN JOHN H sold $18.51 million. On Monday, October 3 Lampert Erin M sold $288,570 worth of the stock or 1,739 shares. Another trade for 215 shares valued at $39,317 was sold by Schechter Lori A.. 6,322 shares with value of $1.16M were sold by Blake Patrick on Tuesday, May 24. KNOWLES MARIE L/CA sold $176,348 worth of McKesson Corporation (NYSE:MCK) on Monday, August 1. JACOBS M CHRISTINE had sold 915 shares worth $177,312 on Monday, August 22. Another trade for 20,232 shares valued at $3.70M was sold by JULIAN PAUL C.
McKesson Corporation is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The company has a market cap of $31.46 billion. The Firm operates through two divisions: McKesson Distribution Solutions and Technology Solutions. It has a 15.62 P/E ratio. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
According to Zacks Investment Research, “McKesson Corporation, the world’s largest health care service and technology company, delivers unique supply and information management solutions that reduce costs and improve quality for its health care customers. The Company is organized under two operating segments: Health Care Supply Management and Health Care Information Technology.”
McKesson Corporation (McKesson), incorporated on July 7, 1994, is a pharmaceutical distribution services and information technology company. The Firm delivers an offering of pharmaceuticals and medical supplies. The Firm operates through two divisions: McKesson Distribution Solutions and McKesson Technology Solutions.
Another recent and important McKesson Corporation (NYSE:MCK) news was published by Seekingalpha.com which published an article titled: “Why McKesson Corporation Shares Fell 23% In A Day” on October 30, 2016.
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By Adrian Mccoy