McKesson (NYSE:MCK) PT Raised to $652.00

McKesson (NYSE:MCK) had its target price upped by equities research analysts at TD Cowen from $563.00 to $652.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 17.45% from the company’s current price.

A number of other equities research analysts have also recently commented on MCK. Citigroup upped their target price 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 began coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective for the company. Robert W. Baird boosted their target price on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley increased their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Mizuho upped their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Price Performance

McKesson stock opened at $555.12 on Wednesday. The stock’s fifty day moving average is $531.56 and its two-hundred day moving average is $494.15. The stock has a market cap of $72.95 billion, a PE ratio of 24.80, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson has a 1-year low of $373.28 and a 1-year high of $566.01.

McKesson (NYSE:MCK) last posted its 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). The business had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.19 EPS. On average, research analysts expect that McKesson will post 27.59 earnings per share for the current fiscal year.

Insider Activity

In other McKesson news, 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 completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the firm’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 completion of the sale, 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. Company insiders own 0.21% of the company’s stock.

Institutional Trading of McKesson

A number of hedge funds and other institutional investors have recently made changes to their positions in MCK. Lindbrook Capital LLC increased its stake in McKesson by 1.7% in the first quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after purchasing an additional 19 shares in the last quarter. KCM Investment Advisors LLC grew its stake in McKesson by 1.4% in the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock valued at $727,000 after acquiring an additional 19 shares during the period. TCI Wealth Advisors Inc. increased its holdings in shares of McKesson by 1.3% during the first quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company’s stock valued at $822,000 after acquiring an additional 19 shares in the last quarter. Douglass Winthrop Advisors LLC raised its position in shares of McKesson by 1.4% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after purchasing an additional 21 shares during the period. Finally, Addison Advisors LLC grew its position in McKesson by 7.9% in the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock valued at $138,000 after purchasing an additional 22 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Company Profile

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.