McKesson (NYSE:MCK) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of McKesson (NYSE:MCK) from a buy rating to a hold rating in a report published on Saturday morning.

Several other equities research analysts also recently issued reports on MCK. Leerink Partners boosted their price objective on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Robert W. Baird upped their target price on shares of McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research note on Thursday. Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Finally, TD Cowen boosted their price objective on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $880.15.

McKesson Stock Down 0.9%

NYSE:MCK opened at $850.77 on Friday. The firm’s fifty day simple moving average is $757.54 and its 200-day simple moving average is $724.25. The stock has a market cap of $105.82 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson has a fifty-two week low of $558.13 and a fifty-two week high of $867.63.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the previous year, the company posted $7.07 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that McKesson will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 10.21%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On McKesson

Several hedge funds have recently made changes to their positions in MCK. Solstein Capital LLC increased its stake in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. State of Wyoming acquired a new position in shares of McKesson during the second quarter worth approximately $29,000. Hopwood Financial Services Inc. bought a new stake in shares of McKesson in the third quarter valued at approximately $31,000. GFG Capital LLC bought a new position in McKesson during the second quarter worth $30,000. Finally, CBIZ Investment Advisory Services LLC increased its position in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.