McKesson (NYSE:MCK) Stock Price Expected to Rise, Mizuho Analyst Says

McKesson (NYSE:MCK) had its price objective lifted by stock analysts at Mizuho from $905.00 to $1,020.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price target would suggest a potential upside of 0.79% from the stock’s previous close.

MCK has been the subject of a number of other research reports. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Robert W. Baird set a $1,015.00 price target on McKesson in a research report on Thursday, August 6th. Barclays lifted their price objective on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada reissued a “sector perform” rating and set a $845.00 price objective on shares of McKesson in a research report on Monday, September 14th. Finally, Citigroup boosted their price objective on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $997.12.

McKesson Stock Up 0.7%

Shares of MCK stock opened at $1,012.03 on Tuesday. McKesson has a 12 month low of $723.68 and a 12 month high of $1,014.99. The company has a market cap of $117.99 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 2.00 and a beta of 0.30. The business’s 50 day moving average is $900.34 and its two-hundred day moving average is $838.37.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the prior year, the firm earned $8.26 EPS. McKesson’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts expect that McKesson will post 44.71 EPS for the current fiscal year.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. This represents a 17.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the completion of the sale, the executive vice president owned 5,423 shares in the company, valued at $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,212 shares of company stock valued at $1,164,182. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of McKesson in the 2nd quarter worth approximately $8,156,743,000. Bank of America Corp DE increased its position in shares of McKesson by 2.4% during the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock valued at $1,331,552,000 after purchasing an additional 35,916 shares during the period. Swedbank AB increased its position in shares of McKesson by 13.5% during the first quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock valued at $870,215,000 after purchasing an additional 119,327 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of McKesson by 3.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock valued at $697,096,000 after purchasing an additional 29,747 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of McKesson in the second quarter valued at $656,566,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.