McKesson (NYSE:MCK) Given New $675.00 Price Target at Evercore ISI

McKesson (NYSE:MCK) had its price target boosted by Evercore ISI from $650.00 to $675.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 15.20% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Citigroup lowered their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company raised their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Stock Down 3.5 %

Shares of NYSE MCK traded down $20.96 during trading on Thursday, hitting $585.95. 564,646 shares of the company traded hands, compared to its average volume of 707,628. McKesson has a 1 year low of $464.42 and a 1 year high of $637.51. The firm has a market capitalization of $74.38 billion, a P/E ratio of 30.34, a P/E/G ratio of 1.29 and a beta of 0.52. The company has a 50-day moving average price of $589.61 and a 200-day moving average price of $562.56.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. Research analysts predict that McKesson will post 32.72 EPS for the current fiscal year.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McKesson

Hedge funds have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the third quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the 4th quarter worth $32,000. Finally, Crews Bank & Trust acquired a new position in McKesson in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.