McKesson (NYSE:MCK) Price Target Increased to $596.00 by Analysts at Barclays

McKesson (NYSE:MCK) had its target price lifted by stock analysts at Barclays from $571.00 to $596.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 9.78% from the stock’s previous close.

A number of other brokerages have also recently weighed in on MCK. UBS Group lifted their price target on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI lifted their price target on McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Argus raised their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $569.86.

McKesson Stock Down 0.5 %

NYSE MCK traded down $2.87 on Wednesday, reaching $542.88. 1,120,315 shares of the stock traded hands, compared to its average volume of 709,923. McKesson has a 12 month low of $373.28 and a 12 month high of $566.01. The company has a market cap of $71.34 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 1.41 and a beta of 0.45. The firm’s fifty day simple moving average is $531.17 and its 200 day simple moving average is $493.81.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion during 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%. McKesson’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $7.19 earnings per share. As a group, equities research analysts forecast that McKesson will post 27.59 EPS for the current fiscal year.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $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 dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On McKesson

Several institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management bought a new position in shares of McKesson during the third quarter worth $26,000. Sachetta LLC bought a new stake in shares of McKesson during the fourth quarter worth $27,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson during the first quarter worth $29,000. BKM Wealth Management LLC bought a new stake in McKesson in the 4th quarter valued at $31,000. Finally, Richardson Financial Services Inc. acquired a new position in McKesson in the 4th quarter worth $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.