McKesson (NYSE:MCK) Price Target Raised to $713.00 at Citigroup

McKesson (NYSE:MCK) had its target price hoisted by investment analysts at Citigroup from $630.00 to $713.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 16.88% from the stock’s current price.

MCK has been the topic of a number of other reports. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Price Performance

MCK opened at $610.03 on Wednesday. McKesson has a one year low of $431.35 and a one year high of $637.51. The firm has a market capitalization of $77.44 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The company has a fifty day moving average price of $516.06 and a 200-day moving average price of $553.41.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the firm posted $6.23 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. On average, analysts expect that McKesson will post 32.81 earnings per share for the current year.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On McKesson

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCK. LRI Investments LLC purchased a new stake in shares of McKesson during the 1st quarter valued at about $28,000. Wolff Wiese Magana LLC increased its holdings in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter valued at $31,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the 3rd quarter worth $40,000. Hedge funds and other 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.