McKesson (NYSE:MCK) PT Raised to $630.00 at UBS Group

McKesson (NYSE:MCK) had its target price raised by equities research analysts at UBS Group from $620.00 to $630.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 14.19% from the stock’s current price.

A number of other equities research analysts have also weighed in on MCK. Argus boosted their price objective on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. SVB Leerink began coverage on McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective on the stock. Mizuho raised their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Morgan Stanley upped their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Citigroup raised their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $551.43.

McKesson Stock Up 1.1 %

Shares of McKesson stock traded up $5.98 during trading on Wednesday, reaching $551.73. The company’s stock had a trading volume of 376,106 shares, compared to its average volume of 700,873. The company has a 50-day simple moving average of $531.17 and a two-hundred day simple moving average of $493.81. McKesson has a 1-year low of $373.28 and a 1-year high of $566.01. The company has a market cap of $72.50 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $7.19 EPS. As a group, analysts anticipate that McKesson will post 27.59 earnings per share for the current year.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred 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 owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MCK. OFI Invest Asset Management purchased a new stake in shares of McKesson in the 3rd quarter valued at approximately $26,000. Sachetta LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $27,000. Register Financial Advisors LLC acquired a new position in McKesson during the first quarter worth $29,000. BKM Wealth Management LLC acquired a new stake in shares of McKesson in the fourth quarter valued at $31,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of McKesson in the 4th quarter valued at $31,000. 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.