McKesson (NYSE:MCK) PT Raised to $596.00

McKesson (NYSE:MCK) had its price target boosted by analysts at Barclays from $571.00 to $596.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 9.78% from the company’s current price.

Other research analysts have also recently issued reports about the company. Evercore ISI boosted their price target on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. SVB Leerink started coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Robert W. Baird increased their price objective on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Citigroup lifted their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $569.86.

McKesson Trading Down 0.5 %

McKesson stock traded down $2.87 during midday trading on Wednesday, hitting $542.88. The stock had a trading volume of 1,120,315 shares, compared to its average volume of 709,923. McKesson has a 52-week low of $373.28 and a 52-week high of $566.01. The company has a market capitalization of $71.34 billion, a PE ratio of 24.49, a P/E/G ratio of 1.41 and a beta of 0.45. The firm’s fifty day moving average is $531.17 and its two-hundred day moving average is $493.81.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS 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 the consensus estimate of $79.32 billion. During the same quarter in the previous year, the business earned $7.19 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities research analysts predict that McKesson will post 27.59 earnings per share for the current fiscal year.

Insider Activity at McKesson

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

Institutional Investors Weigh In On McKesson

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. boosted its position in shares of McKesson by 5.8% in the 3rd quarter. Brown Advisory Inc. now owns 4,066 shares of the company’s stock worth $1,768,000 after purchasing an additional 222 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of McKesson by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,926 shares of the company’s stock valued at $15,188,000 after acquiring an additional 2,214 shares in the last quarter. NBT Bank N A NY purchased a new position in shares of McKesson in the 3rd quarter valued at approximately $312,000. Park Avenue Securities LLC acquired a new stake in McKesson in the 3rd quarter worth approximately $1,912,000. Finally, Keel Point LLC purchased a new stake in McKesson during the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.