McKesson (NYSE:MCK) PT Raised to $652.00

McKesson (NYSE:MCK) had its price target hoisted by equities research analysts at TD Cowen from $563.00 to $652.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target suggests a potential upside of 20.36% from the stock’s current price.

A number of other research analysts also recently issued reports on MCK. Mizuho boosted their price target on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Citigroup lifted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. SVB Leerink assumed coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Finally, UBS Group lifted their target price on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $565.64.

McKesson Stock Down 0.7 %

Shares of MCK traded down $4.05 during trading hours on Wednesday, hitting $541.70. The company had a trading volume of 917,355 shares, compared to its average volume of 707,769. McKesson has a 52-week low of $373.28 and a 52-week high of $566.01. The stock’s 50 day moving average price is $531.17 and its 200 day moving average price is $493.81. The firm has a market cap of $71.18 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same period in the previous year, the company earned $7.19 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts expect that McKesson will post 27.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MCK. OFI Invest Asset Management bought a new stake in McKesson during the 3rd quarter worth approximately $26,000. Sachetta LLC bought a new stake in shares of McKesson during the 4th quarter valued at $27,000. Register Financial Advisors LLC purchased a new position in shares of McKesson during the 1st quarter valued at $29,000. BKM Wealth Management LLC bought a new position in McKesson in the 4th quarter worth $31,000. Finally, Richardson Financial Services Inc. purchased a new stake in McKesson in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

About McKesson

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.