NetApp Inc. (NTAP) Forms $45.94 Double Bottom; Anchor Capital Advisors Cut Mckesson (MCK) Stake

November 14, 2017 - By reb123z

Anchor Capital Advisors Llc decreased Mckesson Corp (MCK) stake by 5.56% reported in 2017Q2 SEC filing. Anchor Capital Advisors Llc sold 15,664 shares as Mckesson Corp (MCK)’s stock rose 1.84%. The Anchor Capital Advisors Llc holds 266,134 shares with $43.79M value, down from 281,798 last quarter. Mckesson Corp now has $28.39B valuation. The stock declined 1.37% or $1.89 reaching $136.16 per share. About 40,804 shares traded. McKesson Corporation (NYSE:MCK) has declined 15.45% since November 14, 2016 and is downtrending. It has underperformed by 32.15% the S&P500.

NetApp Inc. (NTAP) formed double bottom with $43.18 target or 6.00% below today’s $45.94 share price. NetApp Inc. (NTAP) has $12.39B valuation. About 45,166 shares traded. NetApp Inc. (NASDAQ:NTAP) has risen 68.93% since November 14, 2016 and is uptrending. It has outperformed by 52.23% the S&P500.

Analysts await McKesson Corporation (NYSE:MCK) to report earnings on January, 24. They expect $2.95 EPS, down 2.64% or $0.08 from last year’s $3.03 per share. MCK’s profit will be $615.09M for 11.54 P/E if the $2.95 EPS becomes a reality. After $3.28 actual EPS reported by McKesson Corporation for the previous quarter, Wall Street now forecasts -10.06% negative EPS growth.

Since May 27, 2017, it had 0 insider buys, and 4 insider sales for $9.65 million activity. Lampert Erin M sold $64,854 worth of stock or 404 shares. HAMMERGREN JOHN H had sold 38,619 shares worth $6.32M on Wednesday, May 31.

Anchor Capital Advisors Llc increased Ishares Tr (IWS) stake by 5,225 shares to 27,055 valued at $2.28 million in 2017Q2. It also upped Vanguard Scottsdale Fds (VCSH) stake by 12,043 shares and now owns 1.10M shares. Bb&T Corp (NYSE:BBT) was raised too.

Investors sentiment decreased to 0.95 in Q2 2017. Its down 0.02, from 0.97 in 2017Q1. It dropped, as 66 investors sold MCK shares while 305 reduced holdings. 100 funds opened positions while 253 raised stakes. 176.11 million shares or 4.62% less from 184.63 million shares in 2017Q1 were reported. Blair William Comm Il has invested 0.01% in McKesson Corporation (NYSE:MCK). Nomura Holdings Incorporated owns 21,458 shares or 0.01% of their US portfolio. New York-based Morgan Stanley has invested 0.07% in McKesson Corporation (NYSE:MCK). Virtus Invest Advisers owns 0.02% invested in McKesson Corporation (NYSE:MCK) for 1,064 shares. Highstreet Asset owns 0.23% invested in McKesson Corporation (NYSE:MCK) for 13,167 shares. The New York-based Qci Asset Management Inc Ny has invested 0% in McKesson Corporation (NYSE:MCK). 1St Source Savings Bank, Indiana-based fund reported 2,340 shares. Alabama-based Retirement Of Alabama has invested 0.14% in McKesson Corporation (NYSE:MCK). Daiwa Securities Group holds 0.06% or 56,894 shares in its portfolio. Hl invested in 0.02% or 6,533 shares. Bancshares Of America Corp De has invested 0.06% in McKesson Corporation (NYSE:MCK). Petrus Trust Communications Lta reported 2,041 shares stake. Patten owns 210 shares. Fmr Ltd holds 0.06% or 3.10 million shares in its portfolio. The Massachusetts-based Bollard Gp Ltd Co has invested 0% in McKesson Corporation (NYSE:MCK).

Among 21 analysts covering McKesson Corporation (NYSE:MCK), 9 have Buy rating, 1 Sell and 11 Hold. Therefore 43% are positive. McKesson Corporation had 70 analyst reports since July 31, 2015 according to SRatingsIntel. UBS initiated the stock with “Neutral” rating in Thursday, October 6 report. As per Monday, April 24, the company rating was maintained by Leerink Swann. Mizuho maintained the stock with “Neutral” rating in Thursday, August 11 report. The stock of McKesson Corporation (NYSE:MCK) has “Neutral” rating given on Tuesday, January 3 by Mizuho. The rating was downgraded by Standpoint Research to “Hold” on Friday, November 11. The stock has “Outperform” rating by FBR Capital on Thursday, July 30. Mizuho maintained McKesson Corporation (NYSE:MCK) on Monday, September 26 with “Neutral” rating. The firm has “Market Perform” rating given on Tuesday, March 15 by Cowen & Co. The rating was maintained by Mizuho on Tuesday, June 7 with “Neutral”. The stock has “Overweight” rating by JP Morgan on Tuesday, August 9.

Among 43 analysts covering Netapp Inc. (NASDAQ:NTAP), 14 have Buy rating, 8 Sell and 21 Hold. Therefore 33% are positive. Netapp Inc. had 124 analyst reports since August 17, 2015 according to SRatingsIntel. Drexel Hamilton maintained the stock with “Buy” rating in Wednesday, August 16 report. The stock of NetApp Inc. (NASDAQ:NTAP) has “Buy” rating given on Tuesday, November 14 by Piper Jaffray. As per Tuesday, May 24, the company rating was maintained by RBC Capital Markets. The firm earned “Buy” rating on Tuesday, August 15 by Longbow. The firm has “Hold” rating given on Wednesday, August 16 by Oppenheimer. As per Monday, August 24, the company rating was maintained by Deutsche Bank. The stock of NetApp Inc. (NASDAQ:NTAP) earned “Neutral” rating by Susquehanna on Tuesday, September 8. The stock has “Neutral” rating by Goldman Sachs on Wednesday, August 24. The rating was maintained by RBC Capital Markets on Tuesday, August 1 with “Hold”. The firm has “Underweight” rating given on Thursday, August 18 by Morgan Stanley.

Since May 26, 2017, it had 0 insider buys, and 6 selling transactions for $2.60 million activity. The insider ALLEN JEFFRY R sold 20,000 shares worth $809,134. Shares for $518,301 were sold by FAWCETT MATTHEW K on Friday, May 26. Kurian George sold 4,000 shares worth $160,480. REICH JOEL D sold $527,143 worth of stock or 13,118 shares.

Analysts await NetApp Inc. (NASDAQ:NTAP) to report earnings on November, 15 after the close. They expect $0.55 EPS, up 30.95% or $0.13 from last year’s $0.42 per share. NTAP’s profit will be $148.33M for 20.88 P/E if the $0.55 EPS becomes a reality. After $0.52 actual EPS reported by NetApp Inc. for the previous quarter, Wall Street now forecasts 5.77% EPS growth.

Investors sentiment decreased to 1.18 in 2017 Q2. Its down 0.05, from 1.23 in 2017Q1. It worsened, as 39 investors sold NetApp Inc. shares while 130 reduced holdings. 49 funds opened positions while 150 raised stakes. 242.73 million shares or 2.39% more from 237.08 million shares in 2017Q1 were reported. Oak Associate Limited Oh stated it has 0.82% in NetApp Inc. (NASDAQ:NTAP). Peak6 Invs Ltd Partnership reported 18,926 shares stake. Moreover, Enterprise Services Corporation has 0.11% invested in NetApp Inc. (NASDAQ:NTAP). Old Mutual Global (Uk) Limited has invested 1.36% in NetApp Inc. (NASDAQ:NTAP). Hwg Lp stated it has 0.19% of its portfolio in NetApp Inc. (NASDAQ:NTAP). Gru One Trading Limited Partnership holds 0% of its portfolio in NetApp Inc. (NASDAQ:NTAP) for 2,627 shares. Bank Of Nova Scotia has 60,910 shares for 0.01% of their portfolio. Franklin Resources, California-based fund reported 49,037 shares. Bowling Port Mgmt Ltd Limited Liability Company reported 29,842 shares. The New York-based Jpmorgan Chase And has invested 0.01% in NetApp Inc. (NASDAQ:NTAP). Afam Cap holds 7,946 shares. North Carolina-based First Citizens Fincl Bank And has invested 0.11% in NetApp Inc. (NASDAQ:NTAP). Eaton Vance holds 524,046 shares. Todd Asset Management Ltd Limited Liability Company owns 347,495 shares or 0.4% of their US portfolio. Cornerstone Mgmt Ltd Liability Company owns 324,834 shares.

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