McKesson (NYSE:MCK) Price Target Raised to $548.00 at Morgan Stanley

McKesson (NYSE:MCK) had its target price hoisted by Morgan Stanley from $522.00 to $548.00 in a report issued on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages have also commented on MCK. Leerink Partnrs reissued an outperform rating on shares of McKesson in a research note on Monday, February 26th. Citigroup boosted their price target on McKesson from $530.00 to $575.00 and gave the stock a buy rating in a research note on Thursday, February 8th. Barclays began coverage on McKesson in a research note on Wednesday, January 3rd. They set an overweight rating and a $537.00 price target on the stock. Argus boosted their price target on McKesson from $510.00 to $570.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, UBS Group boosted their price target on McKesson from $575.00 to $620.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of Moderate Buy and a consensus price target of $533.50.

McKesson Stock Down 1.4 %

NYSE MCK opened at $518.81 on Monday. McKesson has a 52-week low of $352.34 and a 52-week high of $543.00. The business’s 50-day moving average price is $524.44 and its 200 day moving average price is $485.71. The firm has a market cap of $68.18 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.90 EPS. As a group, analysts anticipate that McKesson will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly 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 is available at this hyperlink. 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 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 in the company, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value 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 currently owned by insiders.

Institutional Trading of McKesson

Institutional investors have recently made changes to their positions in the stock. Raymond James & Associates grew its stake in shares of McKesson by 6.1% during the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after buying an additional 8,784 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after buying an additional 5,425 shares during the period. Insight Wealth Strategies LLC purchased a new stake in shares of McKesson during the 4th quarter valued at $1,813,000. Aspire Private Capital LLC grew its stake in shares of McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after buying an additional 60 shares during the period. Finally, Argus Investors Counsel Inc. purchased a new stake in shares of McKesson during the 4th quarter valued at $891,000. 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.