Morgan Stanley Trims McKesson (MCK) Target Price to $130.00

Morgan Stanley Trims McKesson (MCK) Target Price to $130.00

McKesson (NYSE:MCK) had its price objective lowered by Morgan Stanley from $142.00 to $130.00 in a research report report published on Monday morning, MarketBeat Ratings reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the company. Barclays lowered their price objective on McKesson from $150.00 to $136.00 and set an equal weight rating for the company in a research report on Friday, October 26th. Mizuho reissued a hold rating and issued a $133.00 price objective on shares of McKesson in a research report on Sunday, August 12th. Royal Bank of Canada set a $155.00 price objective on McKesson and gave the stock a hold rating in a research report on Friday, October 26th. Finally, ValuEngine raised McKesson from a strong sell rating to a sell rating in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $147.63.

Shares of NYSE MCK opened at $126.40 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 0.69. The firm has a market cap of $24.43 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 1.42 and a beta of 1.03. McKesson has a 12-month low of $117.19 and a 12-month high of $178.86.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.32. The business had revenue of $53.08 billion for the quarter, compared to analysts’ expectations of $53.56 billion. McKesson had a return on equity of 26.55% and a net margin of 0.06%. As a group, equities research analysts expect that McKesson will post 13.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a $0.39 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.23%. McKesson’s payout ratio is 12.36%.

A number of hedge funds have recently modified their holdings of MCK. Boston Partners raised its stake in McKesson by 54.5% in the 2nd quarter. Boston Partners now owns 6,237,042 shares of the company’s stock worth $832,021,000 after acquiring an additional 2,200,669 shares during the last quarter. Nordea Investment Management AB raised its stake in McKesson by 48.8% in the 3rd quarter. Nordea Investment Management AB now owns 3,300,839 shares of the company’s stock worth $437,856,000 after acquiring an additional 1,082,398 shares during the last quarter. Matthew Goff Investment Advisor LLC raised its stake in McKesson by 13,239.1% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 987,361 shares of the company’s stock worth $7,402,000 after acquiring an additional 979,959 shares during the last quarter. Renaissance Technologies LLC purchased a new position in McKesson in the 3rd quarter worth $92,775,000. Finally, Rehmann Capital Advisory Group raised its stake in McKesson by 14,640.7% in the 3rd quarter. Rehmann Capital Advisory Group now owns 594,049 shares of the company’s stock worth $4,478,000 after acquiring an additional 590,019 shares during the last quarter. Institutional investors own 85.46% of the company’s stock.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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