McKesson Co. (NYSE:MCK) Receives $661.00 Consensus Price Target from Brokerages

McKesson Co. (NYSE:MCK) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $668.50.

A number of equities research analysts have recently issued reports on MCK shares. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley raised their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital A Wealth Management LLC purchased a new stake in McKesson during the fourth quarter worth $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the 4th quarter worth about $28,000. Synergy Asset Management LLC acquired a new stake in McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust purchased a new position in McKesson during the 4th quarter valued at about $33,000. Finally, Atala Financial Inc acquired a new position in McKesson during the fourth quarter worth about $34,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of MCK opened at $690.43 on Friday. The stock has a 50 day moving average price of $642.70 and a 200 day moving average price of $593.06. The stock has a market capitalization of $86.53 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49. McKesson has a one year low of $464.42 and a one year high of $728.32.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts predict that McKesson will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

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.