Robert W. Baird Upgrades McKesson (NYSE:MCK) to Outperform

McKesson (NYSE:MCK) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a $688.00 target price on the stock, up from their previous target price of $531.00. Robert W. Baird’s price target would suggest a potential upside of 12.21% from the company’s current price.

Several other equities analysts have also weighed in on the stock. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. JPMorgan Chase & Co. upped their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI decreased their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Mizuho upped their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $625.64.

McKesson Stock Up 0.9 %

NYSE MCK opened at $613.12 on Thursday. The firm’s 50 day moving average is $513.03 and its 200-day moving average is $551.60. McKesson has a 12-month low of $431.35 and a 12-month high of $637.51. The company has a market capitalization of $79.51 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.89 by $0.18. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.23 EPS. As a group, sell-side analysts expect that McKesson will post 31.92 EPS for the current year.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norden Group LLC acquired a new stake in shares of McKesson during the first quarter worth $295,000. Geneos Wealth Management Inc. grew its holdings in McKesson by 16.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the company’s stock worth $320,000 after acquiring an additional 84 shares during the period. Duality Advisers LP bought a new position in shares of McKesson in the 1st quarter worth about $571,000. Envestnet Portfolio Solutions Inc. raised its position in shares of McKesson by 5.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 17,070 shares of the company’s stock worth $9,164,000 after acquiring an additional 915 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of McKesson by 206.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,672 shares of the company’s stock valued at $1,971,000 after purchasing an additional 2,473 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.