Robert W. Baird Boosts McKesson (NYSE:MCK) Price Target to $694.00

McKesson (NYSE:MCK) had its price objective hoisted by Robert W. Baird from $679.00 to $694.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 18.26% from the stock’s current price.

MCK has been the topic of a number of other research reports. Morgan Stanley boosted their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Bank of America increased their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. Evercore ISI increased their price target on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, UBS Group boosted their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $596.00.

McKesson Price Performance

NYSE:MCK opened at $586.82 on Tuesday. McKesson has a 1 year low of $395.30 and a 1 year high of $612.17. The business has a fifty day simple moving average of $574.01 and a two-hundred day simple moving average of $532.72. The company has a market capitalization of $76.25 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.38 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.19 earnings per share. As a group, analysts anticipate that McKesson will post 31.53 earnings per share for the current year.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 704 shares of McKesson stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the completion of the transaction, the executive vice president now owns 2,215 shares in the company, valued at approximately $1,236,169.35. The disclosure for this sale can be found here. Insiders sold 29,567 shares of company stock worth $16,691,841 in the last quarter. 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 the stock. Csenge Advisory Group grew its holdings in McKesson by 6.3% in the 2nd quarter. Csenge Advisory Group now owns 2,396 shares of the company’s stock worth $1,400,000 after acquiring an additional 142 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of McKesson by 555.2% in the second quarter. Fortitude Family Office LLC now owns 190 shares of the company’s stock worth $111,000 after purchasing an additional 161 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of McKesson by 4.5% in the second quarter. Valeo Financial Advisors LLC now owns 1,354 shares of the company’s stock worth $791,000 after purchasing an additional 58 shares during the last quarter. NBC Securities Inc. increased its holdings in McKesson by 7.8% during the 2nd quarter. NBC Securities Inc. now owns 2,187 shares of the company’s stock valued at $1,277,000 after purchasing an additional 159 shares during the period. Finally, CWM LLC raised its position in McKesson by 33.5% during the 2nd quarter. CWM LLC now owns 7,460 shares of the company’s stock valued at $4,357,000 after purchasing an additional 1,870 shares during the last quarter. 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.