McKesson (NYSE:MCK) Price Target Raised to $713.00

McKesson (NYSE:MCK) had its price target increased by Citigroup from $630.00 to $713.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on MCK. Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Mizuho boosted their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company cut their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Trading Down 0.6 %

Shares of NYSE:MCK opened at $606.29 on Wednesday. The company has a market cap of $76.96 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. McKesson has a 12-month low of $431.35 and a 12-month high of $637.51. The stock has a 50 day moving average of $520.01 and a 200 day moving average of $554.29.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the company earned $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts predict that McKesson will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is presently 14.71%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

Institutional Trading of McKesson

A number of hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC purchased a new position in shares of McKesson during the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the 3rd quarter worth approximately $31,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of McKesson during the 3rd quarter worth approximately $40,000. 85.07% of the stock is owned by institutional investors and hedge funds.

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.