The stock of McKesson Corporation (NYSE:MCK) is a huge mover today! The stock decreased 2.97% or $4 on November 8, hitting $130.51. About 3.10M shares traded hands or 4.03% up from the average. McKesson Corporation (NYSE:MCK) has declined 17.58% since April 6, 2016 and is downtrending. It has underperformed by 19.54% the S&P500.
The move comes after 6 months negative chart setup for the $30.35B company. It was reported on Nov, 8 by Barchart.com. We have $120.07 PT which if reached, will make NYSE:MCK worth $2.43 billion less.
McKesson Corporation (NYSE:MCK) Ratings Coverage
Out of 16 analysts covering McKesson Corporation (NYSE:MCK), 7 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 44% are positive. McKesson Corporation has been the topic of 39 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of McKesson Corporation (NYSE:MCK) earned “Neutral” rating by Bank of America on Tuesday, June 7. The company was downgraded on Wednesday, November 4 by Goldman Sachs. The firm earned “Hold” rating on Wednesday, August 26 by Zacks. The rating was downgraded by Raymond James on Tuesday, January 12 to “Mkt Perform”. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, January 12. The company was upgraded on Friday, October 28 by Standpoint Research. Mizuho maintained the shares of MCK in a report on Thursday, August 11 with “Neutral” rating. The stock of McKesson Corporation (NYSE:MCK) has “Market Perform” rating given on Tuesday, March 15 by Cowen & Co. Standpoint Research downgraded the stock to “Hold” rating in Tuesday, April 26 report. The firm has “Overweight” rating given on Tuesday, August 9 by JP Morgan.
According to Zacks Investment Research, “McKesson Corporation, the world’s largest health care service and technology company, delivers unique supply and information management solutions that reduce costs and improve quality for its health care customers. The Company is organized under two operating segments: Health Care Supply Management and Health Care Information Technology.”
Insitutional Activity: The institutional sentiment decreased to 0.83 in Q2 2016. Its down 0.04, from 0.87 in 2016Q1. The ratio dived, as 79 funds sold all McKesson Corporation shares owned while 353 reduced positions. 88 funds bought stakes while 269 increased positions. They now own 186.66 million shares or 6.92% less from 200.54 million shares in 2016Q1.
The Ohio-based Fort Washington Inv Advsr Oh has invested 0.01% in McKesson Corporation (NYSE:MCK). Godsey & Gibb Assoc accumulated 54,859 shares or 1.86% of the stock. Royal National Bank & Trust Of Canada last reported 685,485 shares in the company. Nadler Fincl Grp last reported 1,330 shares in the company. Oregon Pub Employees Retirement Fund accumulated 51,412 shares or 0.21% of the stock. Pacad Invest Limited accumulated 8,780 shares or 0.23% of the stock. Macquarie Group Incorporated Ltd accumulated 0.02% or 67,323 shares. Muhlenkamp & has 3.37% invested in the company for 46,183 shares. Ameritas Inv Prtn reported 4,614 shares or 0.06% of all its holdings. First Manhattan accumulated 0% or 1,465 shares. Magnetar Ltd holds 2,706 shares or 0.01% of its portfolio. Meritage Gru L P, a California-based fund reported 1.11M shares. Ibm Retirement Fund reported 29,573 shares or 0.2% of all its holdings. New York State Common Retirement Fund holds 592,600 shares or 0.16% of its portfolio. Fulton Breakefield Broenniman Ltd owns 20,033 shares or 0.76% of their US portfolio.
Insider Transactions: Since May 21, 2016, the stock had 1 insider buy, and 16 selling transactions for $57.41 million net activity. 100,500 shares with value of $18.17M were sold by HAMMERGREN JOHN H on Monday, September 12. $114,195 worth of McKesson Corporation (NYSE:MCK) was sold by Lampert Erin M on Saturday, October 29. On Monday, August 1 the insider KNOWLES MARIE L/CA sold $176,348. Figueredo Jorge sold 12,250 shares worth $2.20 million. Schechter Lori A. sold $39,317 worth of stock. Blake Patrick sold $567,053 worth of McKesson Corporation (NYSE:MCK) on Saturday, May 21. SALKA SUSAN R also bought $136,351 worth of McKesson Corporation (NYSE:MCK) on Wednesday, November 2.
Another recent and important McKesson Corporation (NYSE:MCK) news was published by Seekingalpha.com which published an article titled: “Why McKesson Corporation Shares Fell 23% In A Day” on October 30, 2016.
MCK Company Profile
McKesson Corporation (McKesson), incorporated on July 7, 1994, is a pharmaceutical distribution services and information technology company. The Firm delivers an offering of pharmaceuticals and medical supplies. The Firm operates through two divisions: McKesson Distribution Solutions and McKesson Technology Solutions.
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