McKesson (NYSE:MCK) Downgraded by StockNews.com

StockNews.com cut shares of McKesson (NYSE:MCK) from a strong-buy rating to a buy rating in a report released on Tuesday.

A number of other research analysts also recently issued reports on the company. Morgan Stanley boosted their price objective on McKesson from $522.00 to $548.00 and gave the company an overweight rating in a research note on Monday, April 15th. Argus boosted their price objective on McKesson from $570.00 to $670.00 and gave the company a buy rating in a research note on Monday, June 24th. Bank of America boosted their price objective on McKesson from $590.00 to $670.00 and gave the company a buy rating in a research note on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $547.00 to $545.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Finally, Evercore ISI boosted their price objective on McKesson from $590.00 to $600.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $590.47.

McKesson Stock Down 0.3 %

Shares of MCK stock opened at $583.35 on Tuesday. The firm has a market capitalization of $75.80 billion, a P/E ratio of 26.07, a P/E/G ratio of 1.37 and a beta of 0.45. McKesson has a twelve month low of $395.30 and a twelve month high of $612.17. The stock’s fifty day simple moving average is $569.08 and its 200 day simple moving average is $527.93.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter last year, the firm posted $7.19 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts expect that McKesson will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.62 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Insider Buying and Selling

In other McKesson news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas L. Rodgers sold 789 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $439,788.60. Following the completion of the sale, the executive vice president now directly owns 7,909 shares in the company, valued at $4,408,476.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,814 shares of company stock worth $14,511,649. Corporate insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Several large investors have recently bought and sold shares of MCK. Norges Bank bought a new stake in McKesson during the 4th quarter valued at approximately $1,024,140,000. Swedbank AB bought a new stake in McKesson during the 1st quarter valued at approximately $669,326,000. International Assets Investment Management LLC boosted its position in McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after acquiring an additional 749,504 shares in the last quarter. TD Asset Management Inc boosted its position in McKesson by 202.8% during the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after acquiring an additional 403,312 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after acquiring an additional 340,007 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Company Profile

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.