McKesson (NYSE:MCK) PT Raised to $514.00 at JPMorgan Chase & Co.

McKesson (NYSE:MCK) had its price objective lifted by analysts at JPMorgan Chase & Co. from $495.00 to $514.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.17% from the company’s current price.

Other analysts have also recently issued reports about the company. TD Cowen boosted their price objective on McKesson from $491.00 to $495.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Credit Suisse Group boosted their price objective on McKesson from $450.00 to $485.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. StockNews.com assumed coverage on McKesson in a research report on Thursday, October 5th. They set a “strong-buy” rating on the stock. UBS Group boosted their price objective on McKesson from $470.00 to $480.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Mizuho boosted their price objective on McKesson from $427.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $472.83.

McKesson Stock Down 0.1 %

Shares of NYSE MCK opened at $450.20 on Friday. The business’s 50 day moving average is $447.20 and its two-hundred day moving average is $421.35. The company has a market cap of $59.90 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.56 and a beta of 0.56. McKesson has a 12 month low of $331.75 and a 12 month high of $473.18.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $6.23 EPS for the quarter, topping the consensus estimate of $6.11 by $0.12. The company had revenue of $77.22 billion for the quarter, compared to the consensus estimate of $76.03 billion. McKesson had a negative return on equity of 241.79% and a net margin of 1.20%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $6.06 EPS. Sell-side analysts expect that McKesson will post 27.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 660 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $461.26, for a total value of $304,431.60. Following the transaction, the executive vice president now owns 1,325 shares of the company’s stock, valued at $611,169.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 10,521 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $460.00, for a total transaction of $4,839,660.00. Following the transaction, the chief executive officer now owns 67,408 shares of the company’s stock, valued at $31,007,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 660 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $461.26, for a total value of $304,431.60. Following the transaction, the executive vice president now directly owns 1,325 shares in the company, valued at approximately $611,169.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,082 shares of company stock valued at $30,258,690. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McKesson

Several large investors have recently made changes to their positions in MCK. Fairfield Bush & CO. bought a new stake in McKesson in the first quarter valued at about $46,000. Synovus Financial Corp increased its holdings in McKesson by 4.0% in the first quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock valued at $673,000 after purchasing an additional 85 shares during the last quarter. Prudential PLC bought a new stake in McKesson in the first quarter valued at about $1,610,000. Cetera Investment Advisers increased its holdings in McKesson by 17.8% in the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock valued at $3,012,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new stake in McKesson in the first quarter valued at about $598,000. Institutional investors and hedge funds own 82.69% 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.