McKesson (NYSE:MCK) Price Target Raised to $377.00 at Credit Suisse Group

McKesson (NYSE:MCKGet Rating) had its target price boosted by equities research analysts at Credit Suisse Group from $333.00 to $377.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Credit Suisse Group’s price objective indicates a potential upside of 14.30% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Mizuho increased their price target on McKesson from $280.00 to $331.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on McKesson from $270.00 to $343.00 in a research report on Tuesday. TheStreet upgraded McKesson from a “d” rating to a “c+” rating in a research report on Wednesday, February 2nd. Cowen raised their price objective on McKesson from $325.00 to $361.00 and gave the stock an “outperform” rating in a research report on Monday, April 18th. Finally, Morgan Stanley raised their price objective on McKesson from $292.00 to $370.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $320.08.

NYSE:MCK opened at $329.83 on Wednesday. McKesson has a 1-year low of $184.43 and a 1-year high of $335.60. The firm has a market capitalization of $49.41 billion, a price-to-earnings ratio of 45.75, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67. The stock has a fifty day simple moving average of $308.01 and a 200 day simple moving average of $265.18.

McKesson (NYSE:MCKGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $5.83 earnings per share for the quarter, missing analysts’ consensus estimates of $6.04 by ($0.21). McKesson had a net margin of 0.42% and a negative return on equity of 1,192.17%. The company had revenue of $66.10 billion during the quarter, compared to analyst estimates of $63.82 billion. During the same quarter last year, the business earned $5.05 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts anticipate that McKesson will post 23.06 EPS for the current year.

In related news, CEO Brian S. Tyler sold 5,438 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $323.25, for a total value of $1,757,833.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Flores sold 3,298 shares of the firm’s stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $311.09, for a total value of $1,025,974.82. Following the completion of the sale, the executive vice president now directly owns 5,440 shares in the company, valued at approximately $1,692,329.60. The disclosure for this sale can be found here. Insiders sold a total of 14,174 shares of company stock worth $4,520,488 over the last three months. 0.28% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCK. Putnam Investments LLC grew its holdings in McKesson by 486.4% in the 3rd quarter. Putnam Investments LLC now owns 2,323,190 shares of the company’s stock valued at $463,198,000 after buying an additional 1,926,999 shares during the last quarter. Norges Bank acquired a new stake in shares of McKesson during the 4th quarter worth approximately $386,729,000. Aaron Wealth Advisors LLC grew its holdings in shares of McKesson by 30,460.5% during the 1st quarter. Aaron Wealth Advisors LLC now owns 890,838 shares of the company’s stock worth $2,910,000 after purchasing an additional 887,923 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of McKesson by 1,401.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,821 shares of the company’s stock worth $74,333,000 after purchasing an additional 347,996 shares in the last quarter. Finally, Samlyn Capital LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $79,518,000. 85.45% of the stock is currently owned by hedge funds and other institutional investors.

About McKesson (Get Rating)

McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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