McKesson (NYSE:MCK) Given New $505.00 Price Target at Mizuho

McKesson (NYSE:MCKFree Report) had its target price increased by Mizuho from $450.00 to $505.00 in a report issued on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the stock.

MCK has been the subject of a number of other research reports. Morgan Stanley raised their target price on shares of McKesson from $459.00 to $480.00 and gave the stock an overweight rating in a research note on Thursday, November 2nd. TD Cowen raised their price target on shares of McKesson from $508.00 to $563.00 and gave the stock an outperform rating in a research report on Monday, December 11th. UBS Group raised their price target on shares of McKesson from $525.00 to $559.00 and gave the stock a buy rating in a research report on Monday, January 29th. StockNews.com lowered shares of McKesson from a strong-buy rating to a buy rating in a research report on Thursday, January 4th. Finally, Barclays assumed coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set an overweight rating and a $537.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $511.54.

Check Out Our Latest Stock Analysis on McKesson

McKesson Stock Performance

NYSE MCK opened at $501.35 on Friday. The firm has a 50-day moving average of $475.11 and a 200-day moving average of $451.23. The stock has a market cap of $66.71 billion, a PE ratio of 22.72, a P/E/G ratio of 1.81 and a beta of 0.44. McKesson has a 52-week low of $331.75 and a 52-week high of $519.75.

McKesson (NYSE:MCKGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 275.97%. McKesson’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $6.90 EPS. As a group, analysts predict that McKesson will post 27.27 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

Insider Activity

In other news, CEO Brian S. Tyler sold 14,026 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total value of $6,732,480.00. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $20,853,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On McKesson

A number of hedge funds have recently made changes to their positions in MCK. Covestor Ltd boosted its position in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares during the period. Mine & Arao Wealth Creation & Management LLC. boosted its position in McKesson by 313.3% during the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 62 shares of the company’s stock worth $26,000 after buying an additional 47 shares during the period. OFI Invest Asset Management acquired a new stake in McKesson during the 3rd quarter worth approximately $26,000. Legacy Financial Group LLC acquired a new stake in McKesson during the 3rd quarter worth approximately $27,000. Finally, Sachetta LLC acquired a new stake in McKesson during the 4th quarter worth approximately $27,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.

McKesson Company Profile

(Get Free Report)

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.

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Analyst Recommendations for McKesson (NYSE:MCK)

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