McKesson (NYSE:MCK) Stock Price Expected to Rise, Morgan Stanley Analyst Says

McKesson (NYSE:MCK) had its price objective increased by stock analysts at Morgan Stanley from $745.00 to $770.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 5.42% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Mizuho upped their target price on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Wall Street Zen raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 30th. UBS Group lifted their target price on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an “equal weight” rating in a research note on Tuesday, June 3rd. Finally, Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $694.38.

McKesson Trading Up 1.8%

Shares of NYSE:MCK opened at $730.39 on Wednesday. The company has a 50-day moving average price of $701.80 and a 200-day moving average price of $643.67. The company has a market cap of $91.38 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson has a 12 month low of $464.42 and a 12 month high of $731.18.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter in the prior year, the company posted $6.18 EPS. McKesson’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, research analysts forecast that McKesson will post 32.77 EPS for the current fiscal year.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 341 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $244,807.31. Following the sale, the executive vice president now directly owns 2,800 shares in the company, valued at approximately $2,010,148. This trade represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the transaction, the chief executive officer now directly owns 51,243 shares in the company, valued at approximately $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by insiders.

Institutional Trading of McKesson

A number of institutional investors have recently made changes to their positions in MCK. Capital A Wealth Management LLC purchased a new stake in McKesson in the fourth quarter worth approximately $26,000. Millstone Evans Group LLC bought a new position in shares of McKesson during the 4th quarter valued at $28,000. Bank of Jackson Hole Trust boosted its stake in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the period. Finally, Atala Financial Inc purchased a new stake in McKesson during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.