McKesson (NYSE:MCK) Price Target Increased to $570.00 by Analysts at Mizuho

McKesson (NYSE:MCK) had its price target lifted by Mizuho from $540.00 to $570.00 in a research report released on Thursday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on MCK. TD Cowen lifted their target price on shares of McKesson from $563.00 to $652.00 and gave the company a buy rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $547.00 to $545.00 and set a buy rating for the company in a research note on Thursday, May 9th. StockNews.com raised McKesson from a buy rating to a strong-buy rating in a research note on Tuesday, July 23rd. Evercore ISI reduced their price objective on shares of McKesson from $660.00 to $630.00 and set an outperform rating for the company in a research report on Thursday. Finally, Wells Fargo & Company boosted their target price on McKesson from $502.00 to $551.00 and gave the stock an equal weight rating in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $601.47.

McKesson Stock Performance

Shares of NYSE:MCK traded down $6.37 on Thursday, hitting $541.14. 1,742,136 shares of the company’s stock were exchanged, compared to its average volume of 736,197. The firm’s 50-day moving average is $592.00 and its 200 day moving average is $549.75. The company has a market capitalization of $70.31 billion, a PE ratio of 24.18, a P/E/G ratio of 1.46 and a beta of 0.45. McKesson has a 1-year low of $404.72 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.16 by $0.72. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period last year, the firm posted $7.27 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that McKesson will post 31.68 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.52%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Activity at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 894 shares of McKesson stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the sale, the chief financial officer now directly owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $498,315.60. Following the completion of the transaction, the chief financial officer now owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,714 shares of company stock valued at $18,703,160. 0.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares during the period. Norges Bank purchased a new position in McKesson in the fourth quarter valued at approximately $1,024,140,000. Putnam Investments LLC lifted its position in McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after buying an additional 62,242 shares in the last quarter. Swedbank AB purchased a new stake in McKesson during the first quarter worth approximately $669,326,000. Finally, Boston Partners grew its stake in McKesson by 4.1% during the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after buying an additional 47,140 shares during the period. 85.07% of the stock is owned by hedge funds and other 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.