Rating Action: Does McKesson (NYSE:MCK) Look Bad? Credit Suisse Downgrades It

November 23, 2016 - By Richard Conner

Rating Action: Does McKesson (NYSE:MCK) Look Bad? Credit Suisse Downgrades It

McKesson (NYSE:MCK) Downgrade

McKesson (NYSE:MCK) was downgraded by expert analysts at Credit Suisse from a “Neutral” rating to a “Underperform” rating in a research note revealed on Wednesday, 23 November.

McKesson Corporation (NYSE:MCK) Ratings Coverage

Out of 16 analysts covering McKesson Corporation (NYSE:MCK), 7 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 44% are positive. $275 is the highest target while $147 is the lowest. The $203.25 average target is 46.07% above today’s ($139.15) stock price. McKesson Corporation has been the topic of 41 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Wednesday, August 26 by Zacks. S&P Research maintained the shares of MCK in a report on Friday, July 31 with “Buy” rating. The company was maintained on Thursday, July 30 by FBR Capital. The rating was maintained by Mizuho on Monday, January 18 with “Buy”. The firm has “Outperform” rating by FBR Capital given on Tuesday, January 12. Mizuho maintained McKesson Corporation (NYSE:MCK) rating on Tuesday, October 27. Mizuho has “Buy” rating and $210 price target. The stock of McKesson Corporation (NYSE:MCK) has “Neutral” rating given on Friday, October 28 by Robert W. Baird. The firm has “Hold” rating by Standpoint Research given on Tuesday, April 26. The stock of McKesson Corporation (NYSE:MCK) has “Neutral” rating given on Thursday, August 11 by Mizuho. As per Wednesday, November 4, the company rating was downgraded by Goldman Sachs.

About 441,941 shares traded hands. McKesson Corporation (NYSE: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 Q2 2016. Its up 0.23, from 0.83 in 2016Q1. The ratio is positive, 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.

Voya Investment Lc holds 85,865 shares or 0.04% of its portfolio. Shell Asset Mgmt Communications, a Netherlands-based fund reported 42,560 shares. Hutchin Hill Cap L P owns 80,400 shares or 0.5% of their US portfolio. Us Comml Bank De has 225,464 shares for 0.16% of their US portfolio. Weitz Invest holds 0.4% or 57,675 shares in its portfolio. Menta Lc last reported 4,578 shares in the company. The Pennsylvania-based Federated Invsts Pa has invested 0.01% in McKesson Corporation (NYSE:MCK). Private Trust Company Na, a Ohio-based fund reported 3,753 shares. Penobscot Mngmt Communication owns 2,442 shares or 0.16% of their US portfolio. Moreover, Huntington Bancorporation has 0.02% invested in McKesson Corporation (NYSE:MCK) for 3,133 shares. The Illinois-based Trust Department Mb Fin National Bank N A has invested 0% in McKesson Corporation (NYSE:MCK). Atwood Palmer last reported 475 shares in the company. Conning has invested 0.05% of its portfolio in McKesson Corporation (NYSE:MCK). North Star Asset Mgmt Inc has 5,970 shares for 0.11% of their US portfolio. Sg Americas Ltd Company accumulated 975,638 shares or 1.29% of the stock.

Insider Transactions: Since May 24, 2016, the stock had 1 insider purchase, and 7 selling transactions for $37.72 million net activity. HAMMERGREN JOHN H sold $18.17M worth of stock. The insider KNOWLES MARIE L/CA sold 915 shares worth $176,348. Another trade for 20,232 shares valued at $3.70M was made by JULIAN PAUL C on Tuesday, May 24. Shares for $177,312 were sold by JACOBS M CHRISTINE on Monday, August 22. Shares for $136,351 were bought by SALKA SUSAN R on Wednesday, November 2. BUDD WAYNE A also sold $414,920 worth of McKesson Corporation (NYSE:MCK) shares. Lampert Erin M sold $288,570 worth of McKesson Corporation (NYSE:MCK) on Monday, October 3.

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.”

MCK Company Profile

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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