Barclays Lowers McKesson (NYSE:MCK) Price Target to $925.00

McKesson (NYSE:MCK) had its target price decreased by research analysts at Barclays from $1,050.00 to $925.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 16.96% from the company’s previous close.

A number of other analysts have also issued reports on MCK. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Citigroup reduced their price target on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. JPMorgan Chase & Co. dropped their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, Bank of America reduced their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $960.53.

McKesson Price Performance

McKesson stock traded up $6.61 during midday trading on Wednesday, hitting $790.84. 127,684 shares of the company were exchanged, compared to its average volume of 896,804. McKesson has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The company’s fifty day moving average price is $802.84 and its 200-day moving average price is $847.76. The company has a market cap of $95.06 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts expect that McKesson will post 44.28 EPS for the current fiscal year.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,893 shares of company stock valued at $5,225,385. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On McKesson

A number of large investors have recently bought and sold shares of MCK. Norges Bank bought a new stake in shares of McKesson in the 4th quarter worth approximately $1,651,137,000. Swedbank AB grew its stake in McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after buying an additional 263,189 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in McKesson by 4,300.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company’s stock worth $185,787,000 after buying an additional 209,814 shares during the period. SurgoCap Partners LP lifted its stake in McKesson by 68.7% in the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after buying an additional 184,106 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after acquiring an additional 183,590 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.