McKesson (NYSE:MCK) PT Raised to $551.00

McKesson (NYSE:MCK) had its price objective increased by stock analysts at Wells Fargo & Company from $502.00 to $551.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 0.26% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. SVB Leerink started coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Mizuho upped their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Argus upped their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Evercore ISI boosted their price objective on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, TD Cowen upped 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. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $573.36.

McKesson Trading Up 1.6 %

Shares of NYSE MCK traded up $8.84 during midday trading on Thursday, hitting $552.45. The company’s stock had a trading volume of 261,893 shares, compared to its average volume of 708,081. The stock has a fifty day moving average price of $531.17 and a 200 day moving average price of $493.81. McKesson has a one year low of $373.28 and a one year high of $566.01. The firm has a market capitalization of $72.60 billion, a price-to-earnings ratio of 25.07, 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 analysts’ consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $7.19 earnings per share. On average, equities research analysts predict that McKesson will post 27.59 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred 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 in the company, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of McKesson 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 transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On McKesson

Several institutional investors have recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA grew its stake in McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares in the last quarter. Morgan Stanley boosted its position in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the period. Norges Bank bought a new stake in McKesson during the 4th quarter valued at $1,024,140,000. Putnam Investments LLC raised its stake in McKesson by 3.2% during the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after acquiring an additional 62,242 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of McKesson by 3.3% in the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after buying an additional 50,265 shares in the last quarter. 85.07% of the stock is currently 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.