McKesson (NYSE:MCK) PT Raised to $400.00

McKesson (NYSE:MCK – Get Rating) had its price objective hoisted by equities researchers at UBS Group from $380.00 to $400.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 15.38% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Robert W. Baird lifted their target price on McKesson from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday. Argus downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Cowen lifted their target price on McKesson from $325.00 to $361.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Credit Suisse Group lifted their target price on McKesson from $333.00 to $377.00 in a research note on Wednesday, May 11th. Finally, Cowen lifted their target price on McKesson from $325.00 to $361.00 in a research note on Monday, April 18th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $332.85.

McKesson Stock Up 2.6 %

MCK opened at $346.69 on Thursday. The firm has a market cap of $49.78 billion, a price-to-earnings ratio of 36.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. McKesson has a 52 week low of $192.38 and a 52 week high of $348.49. The business’s 50 day moving average is $324.08 and its two-hundred day moving average is $306.13.

McKesson (NYSE:MCK – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $5.83 EPS for the quarter, missing the consensus estimate of $6.06 by ($0.23). The firm had revenue of $66.10 billion for the quarter, compared to analyst estimates of $63.82 billion. McKesson had a negative return on equity of 407.69% and a net margin of 0.52%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $5.05 EPS. Equities analysts expect that McKesson will post 23.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,678 shares of McKesson stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $331.45, for a total transaction of $2,876,323.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Britt J. Vitalone sold 4,192 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $325.16, for a total value of $1,363,070.72. Following the completion of the transaction, the chief financial officer now directly owns 27,395 shares of the company’s stock, valued at $8,907,758.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,678 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $331.45, for a total value of $2,876,323.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,628 shares of company stock valued at $23,779,745. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On McKesson

A number of institutional investors have recently made changes to their positions in MCK. Centaurus Financial Inc. increased its stake in McKesson by 5.8% in the second quarter. Centaurus Financial Inc. now owns 547 shares of the company’s stock valued at $178,000 after purchasing an additional 30 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in McKesson by 3.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 961 shares of the company’s stock valued at $295,000 after purchasing an additional 32 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its stake in McKesson by 1.1% in the second quarter. Vestmark Advisory Solutions Inc. now owns 2,858 shares of the company’s stock valued at $932,000 after purchasing an additional 32 shares during the last quarter. Keystone Financial Services increased its stake in McKesson by 1.4% in the first quarter. Keystone Financial Services now owns 2,323 shares of the company’s stock valued at $758,000 after purchasing an additional 33 shares during the last quarter. Finally, Covestor Ltd increased its stake in McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. 85.45% of the stock is owned by institutional investors and hedge funds.

McKesson Company Profile

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

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