November 23, 2016 - By Ellis Scott
McKesson (NYSE:MCK) was decreased by Credit Suisse from a “Neutral” rating to a “Underperform” rating in a a note revealed to investors and clients on Wednesday morning.
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 44.38% above today’s ($140.77) stock price. McKesson Corporation has been the topic of 41 analyst reports since July 31, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained it with “Outperform” rating and $190.0 target price in Tuesday, January 12 report. As per Friday, October 28, the company rating was downgraded by Leerink Swann. JP Morgan maintained McKesson Corporation (NYSE:MCK) rating on Tuesday, August 9. JP Morgan has “Overweight” rating and $221 price target. The firm has “Buy” rating given on Friday, July 31 by S&P Research. As per Tuesday, June 7, the company rating was maintained by Bank of America. As per Tuesday, April 26, the company rating was downgraded by Standpoint Research. The firm has “Buy” rating by Goldman Sachs given on Wednesday, November 4. Raymond James downgraded the stock to “Outperform” rating in Wednesday, January 6 report. Mizuho maintained the stock with “Buy” rating in Tuesday, October 27 report. The firm has “Mkt Perform” rating by Raymond James given on Tuesday, January 12.
About 1.24M 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 increased, 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.
Asset Of Georgia Inc Ga Adv, a Georgia-based fund reported 3,300 shares. Retirement Of Alabama has 0.13% invested in the company for 114,719 shares. Wesbanco Bank, a West Virginia-based fund reported 72,986 shares. Boothbay Fund Mgmt Ltd Com has 0.69% invested in the company for 7,804 shares. Dimensional Fund Advsrs L P holds 0.06% of its portfolio in McKesson Corporation (NYSE:MCK) for 555,310 shares. Old National Comml Bank In has 10,259 shares for 0.11% of their US portfolio. Fukoku Mutual Life Insur Co, a Japan-based fund reported 1,260 shares. Moody Bank Division holds 2,300 shares or 0.02% of its portfolio. Moreover, Addenda Capital has 0.25% invested in McKesson Corporation (NYSE:MCK) for 16,978 shares. California Pub Employees Retirement System owns 562,976 shares or 0.17% of their US portfolio. Calvert Invest Mgmt holds 63,033 shares or 0.61% of its portfolio. Transamerica Advsrs holds 6,651 shares or 0.13% of its portfolio. Lenox Wealth Advisors owns 262 shares or 0.01% of their US portfolio. King Luther Capital Management Corp holds 0% of its portfolio in McKesson Corporation (NYSE:MCK) for 2,091 shares. Banced accumulated 3,554 shares or 1.23% of the stock.
Insider Transactions: Since May 24, 2016, the stock had 1 insider purchase, and 7 insider sales for $37.72 million net activity. Another trade for 100,500 shares valued at $18.17 million was sold by HAMMERGREN JOHN H. Shares for $39,317 were sold by Schechter Lori A.. Shares for $3.70 million were sold by JULIAN PAUL C on Tuesday, May 24. The insider Lampert Erin M sold $288,570. Shares for $1.16M were sold by Blake Patrick on Tuesday, May 24. Another trade for 2,309 shares valued at $414,920 was sold by BUDD WAYNE A. Shares for $136,351 were bought by SALKA SUSAN R.
McKesson Corporation is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The company has a market cap of $31.82 billion. The Firm operates through two divisions: McKesson Distribution Solutions and Technology Solutions. It has a 15.8 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 Ellis Scott