McKesson (NYSE:MCK) PT Raised to $400.00 at Robert W. Baird

McKesson (NYSE:MCKGet Rating) had its price target boosted by equities research analysts at Robert W. Baird from $386.00 to $400.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 15.38% from the company’s current price.

MCK has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft upgraded shares of McKesson from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $343.00 to $378.00 in a research note on Tuesday, June 7th. Cowen upped their price target on shares of McKesson from $325.00 to $361.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Morgan Stanley upped their price target on shares of McKesson from $292.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. Cowen upped their price target on shares of McKesson from $325.00 to $361.00 in a research note on Monday, April 18th. Finally, UBS Group upped their price target on shares of McKesson to $380.00 and gave the company a “hold” rating in a research note on Thursday, May 19th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.85.

McKesson Stock Up 2.6 %

NYSE MCK opened at $346.69 on Thursday. The firm has a market cap of $49.78 billion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. The company has a 50 day moving average price of $324.08 and a 200 day moving average price of $306.13. McKesson has a 52 week low of $192.38 and a 52 week high of $348.49.

McKesson (NYSE:MCKGet Rating) last posted its quarterly earnings data 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 the consensus estimate of $63.82 billion. McKesson had a negative return on equity of 407.69% and a net margin of 0.52%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $5.05 EPS. On average, equities research analysts anticipate that McKesson will post 23.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,232 shares of the stock in a transaction on Monday, June 13th. The shares were sold at an average price of $308.31, for a total transaction of $996,457.92. Following the sale, the chief executive officer now directly owns 82,039 shares of the company’s stock, valued at $25,293,444.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other McKesson news, CEO Brian S. Tyler sold 1,535 shares of the company’s stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $305.20, for a total transaction of $468,482.00. Following the completion of the transaction, the chief executive officer now directly owns 75,737 shares in the company, valued at $23,114,932.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,232 shares of the company’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $308.31, for a total transaction of $996,457.92. Following the transaction, the chief executive officer now owns 82,039 shares of the company’s stock, valued at $25,293,444.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,628 shares of company stock valued at $23,779,745. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On McKesson

A number of large investors have recently added to or reduced their stakes in the stock. Ascent Group LLC raised its position in McKesson by 82.8% during the second quarter. Ascent Group LLC now owns 2,435 shares of the company’s stock worth $832,000 after acquiring an additional 1,103 shares during the period. Interchange Capital Partners LLC raised its position in McKesson by 36.5% during the second quarter. Interchange Capital Partners LLC now owns 1,077 shares of the company’s stock worth $351,000 after acquiring an additional 288 shares during the period. M&T Bank Corp raised its position in shares of McKesson by 207.1% in the second quarter. M&T Bank Corp now owns 70,114 shares of the company’s stock valued at $14,697,000 after buying an additional 47,286 shares during the last quarter. Pinebridge Investments L.P. raised its position in shares of McKesson by 67.1% in the second quarter. Pinebridge Investments L.P. now owns 117,389 shares of the company’s stock valued at $38,293,000 after buying an additional 47,129 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. raised its position in shares of McKesson by 10.3% in the second quarter. Financial Gravity Asset Management Inc. now owns 9,454 shares of the company’s stock valued at $3,058,000 after buying an additional 886 shares during the last quarter. 85.45% of the stock is currently owned by institutional investors and hedge funds.

About McKesson

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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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