McKesson (NYSE:MCK) PT Raised to $620.00

McKesson (NYSE:MCK) had its target price lifted by Citigroup from $575.00 to $620.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Leerink Partnrs reissued an outperform rating on shares of McKesson in a report on Monday, February 26th. Argus increased their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Barclays began coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an overweight rating and a $537.00 price objective for the company. SVB Leerink began coverage on McKesson in a research note on Monday, February 26th. They issued an outperform rating and a $600.00 target price on the stock. Finally, Morgan Stanley raised their price target on McKesson from $522.00 to $548.00 and gave the company an overweight rating in a research report on Monday, April 15th. Two 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 company’s stock. According to MarketBeat.com, McKesson presently has a consensus rating of Moderate Buy and an average price target of $536.71.

McKesson Trading Down 0.3 %

Shares of NYSE:MCK opened at $528.85 on Tuesday. McKesson has a 12 month low of $352.34 and a 12 month high of $544.81. The stock has a market cap of $69.50 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. The company has a 50 day moving average of $530.13 and a 200 day moving average of $491.57.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion for 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 262.63%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.90 earnings per share. On average, equities analysts forecast that McKesson will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the 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 directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of McKesson in the third quarter worth about $26,000. Legacy Financial Group LLC purchased a new position in shares of McKesson in the third quarter worth $27,000. Sachetta LLC purchased a new position in McKesson during the fourth quarter valued at $27,000. Register Financial Advisors LLC bought a new position in shares of McKesson during the 1st quarter valued at about $29,000. Finally, BKM Wealth Management LLC bought a new stake in shares of McKesson in the fourth quarter worth about $31,000. Institutional investors own 85.07% of the company’s stock.

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.