November 23, 2016 - By Michael Collier
In a an analyst report shared with investors and clients on 23 November, Credit Suisse stated it was downgrading McKesson Corporation (NYSE:MCK) stock rating from a Neutral to a Underperform.
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 44.27% above today’s ($140.88) stock price. McKesson Corporation has been the topic of 41 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Standpoint Research downgraded the stock to “Hold” rating in Tuesday, April 26 report. The stock has “Neutral” rating given by Goldman Sachs on Friday, September 16. The stock of McKesson Corporation (NYSE:MCK) has “Mkt Perform” rating given on Friday, October 28 by Leerink Swann. S&P Research maintained the shares of MCK in a report on Friday, July 31 with “Buy” rating. The stock of McKesson Corporation (NYSE:MCK) earned “Buy” rating by Mizuho on Tuesday, October 27. The firm earned “Neutral” rating on Tuesday, June 7 by Bank of America. JP Morgan maintained McKesson Corporation (NYSE:MCK) on Tuesday, August 9 with “Overweight” rating. The firm has “Mkt Perform” rating by Raymond James given on Tuesday, January 12. The rating was maintained by Mizuho with “Neutral” on Thursday, August 11. FBR Capital maintained it with “Outperform” rating and $210.0 target price in Tuesday, January 12 report.
About 1.32M 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.
Alliancebernstein Ltd Partnership holds 0.32% of its portfolio in McKesson Corporation (NYSE:MCK) for 1.99M shares. Livforsakringsbolaget Skandia Omsesidigt last reported 27,513 shares in the company. Bollard Group Lc last reported 1,335 shares in the company. Moreover, Gemmer Asset Mngmt Limited Liability Co has 0.02% invested in McKesson Corporation (NYSE:MCK) for 241 shares. Great West Life Assurance Can last reported 238,665 shares in the company. Banced owns 3,554 shares or 1.23% of their US portfolio. Balyasny Asset Mgmt Ltd Com reported 223,637 shares or 0.27% of all its holdings. Moreover, Royal Natl Bank Of Scotland Grp Public has 3.3% invested in McKesson Corporation (NYSE:MCK) for 69,964 shares. Montag A Associate accumulated 4,138 shares or 0.1% of the stock. Lpl Fincl Limited Liability Com last reported 0.01% of its portfolio in the stock. Highbridge Management Limited Company accumulated 0.43% or 142,250 shares. Clear Harbor Asset Mgmt Ltd Liability Company holds 0.14% or 3,566 shares in its portfolio. The United Kingdom-based Ahl Prns Limited Liability Partnership has invested 0.28% in McKesson Corporation (NYSE:MCK). Guardian Advsrs Ltd Partnership has 0.04% invested in the company for 1,178 shares. Moreover, First Citizens Savings Bank & Tru has 0.06% invested in McKesson Corporation (NYSE:MCK) for 3,654 shares.
Insider Transactions: Since May 24, 2016, the stock had 1 insider purchase, and 7 sales for $37.72 million net activity. 100,500 shares were sold by HAMMERGREN JOHN H, worth $18.17 million on Monday, September 12. 921 shares were sold by Lampert Erin M, worth $114,195 on Saturday, October 29. The insider SALKA SUSAN R bought 1,000 shares worth $136,351. 915 shares were sold by KNOWLES MARIE L/CA, worth $176,348. BUDD WAYNE A had sold 2,309 shares worth $414,920 on Monday, September 12. Shares for $39,317 were sold by Schechter Lori A.. 915 shares were sold by JACOBS M CHRISTINE, worth $177,312 on Monday, August 22.
McKesson Corporation is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The company has a market cap of $31.85 billion. The Firm operates through two divisions: McKesson Distribution Solutions and Technology Solutions. It has a 15.81 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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