Analysts Set McKesson Co. (NYSE:MCK) Price Target at $610.86

Shares of McKesson Co. (NYSE:MCK) have been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $631.57.

MCK has been the subject of several recent research reports. Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays lifted their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Mizuho upped their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Several large investors have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the 3rd quarter valued at about $31,000. CreativeOne Wealth LLC lifted its holdings in shares of McKesson by 5.8% in the third quarter. CreativeOne Wealth LLC now owns 6,613 shares of the company’s stock valued at $3,270,000 after purchasing an additional 364 shares in the last quarter. BNP Paribas grew its position in shares of McKesson by 252.1% in the third quarter. BNP Paribas now owns 46,107 shares of the company’s stock valued at $22,716,000 after purchasing an additional 33,012 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of McKesson by 20.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554 shares of the company’s stock worth $274,000 after purchasing an additional 94 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of McKesson during the 3rd quarter worth approximately $1,413,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $624.61 on Thursday. McKesson has a one year low of $431.35 and a one year high of $637.51. The business’s 50 day moving average price is $515.00 and its 200 day moving average price is $552.91. The stock has a market capitalization of $79.29 billion, a PE ratio of 32.35, a P/E/G ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company posted $6.23 EPS. As a group, equities research analysts forecast that McKesson will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson’s payout ratio is currently 14.71%.

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.