McKesson (NYSE:MCK) Price Target Raised to $620.00 at Citigroup

McKesson (NYSE:MCK) had its price target raised by Citigroup from $575.00 to $620.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also issued reports on MCK. UBS Group upped their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a buy rating in a report on Wednesday, March 6th. StockNews.com raised shares of McKesson from a buy rating to a strong-buy rating in a report on Thursday, April 25th. Leerink Partnrs reaffirmed an outperform rating on shares of McKesson in a report on Monday, February 26th. SVB Leerink began coverage on shares of McKesson in a report on Monday, February 26th. They set an outperform rating and a $600.00 target price for the company. Finally, Argus upped their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $536.71.

McKesson Stock Performance

Shares of NYSE MCK opened at $537.21 on Tuesday. The firm has a market cap of $70.59 billion, a PE ratio of 24.34, a PEG ratio of 1.44 and a beta of 0.45. The firm has a fifty day moving average of $529.26 and a 200 day moving average of $491.02. McKesson has a one year low of $352.34 and a one year high of $544.81.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.90 EPS. On average, equities analysts predict that McKesson will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s payout ratio is currently 11.24%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of McKesson

Several hedge funds have recently made changes to their positions in the business. Parthenon LLC acquired a new stake in shares of McKesson during the first quarter worth about $229,000. J.W. Cole Advisors Inc. lifted its position in shares of McKesson by 17.5% during the first quarter. J.W. Cole Advisors Inc. now owns 1,461 shares of the company’s stock worth $784,000 after purchasing an additional 218 shares in the last quarter. Hartline Investment Corp acquired a new stake in shares of McKesson during the first quarter worth about $224,000. Norden Group LLC acquired a new stake in shares of McKesson during the first quarter worth about $295,000. Finally, Van ECK Associates Corp lifted its position in shares of McKesson by 17.7% during the first quarter. Van ECK Associates Corp now owns 64,639 shares of the company’s stock worth $34,701,000 after purchasing an additional 9,729 shares in the last quarter. Institutional investors and hedge funds 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.