McKesson (NYSE:MCK) Given New $548.00 Price Target at Morgan Stanley

McKesson (NYSE:MCK) had its price target lifted by Morgan Stanley from $522.00 to $548.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

MCK has been the topic of a number of other reports. Barclays started coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an overweight rating and a $537.00 price target on the stock. Mizuho boosted their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Argus increased their price target on McKesson from $510.00 to $570.00 and gave the company a buy rating in a research note on Wednesday, April 10th. UBS Group raised their price objective on McKesson from $575.00 to $620.00 and gave the company a buy rating in a report on Wednesday, March 6th. Finally, StockNews.com cut McKesson from a strong-buy rating to a buy rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $533.50.

McKesson Price Performance

Shares of MCK opened at $522.68 on Monday. The firm has a 50 day simple moving average of $523.34 and a two-hundred day simple moving average of $484.53. McKesson has a one year low of $352.34 and a one year high of $543.00. The company has a market cap of $68.68 billion, a P/E ratio of 23.68, a P/E/G ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the previous year, the firm earned $6.90 EPS. McKesson’s revenue was up 14.8% on a year-over-year basis. On average, analysts expect that McKesson will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio is presently 11.24%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of McKesson

Several large investors have recently modified their holdings of the stock. Raymond James & Associates grew its holdings in McKesson by 6.1% in the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock worth $70,919,000 after purchasing an additional 8,784 shares during the period. Allspring Global Investments Holdings LLC increased its position in McKesson by 6.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after buying an additional 5,425 shares in the last quarter. Insight Wealth Strategies LLC acquired a new position in McKesson during the 4th quarter worth approximately $1,813,000. Aspire Private Capital LLC boosted its holdings in McKesson by 3.2% in the third quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after acquiring an additional 60 shares in the last quarter. Finally, Argus Investors Counsel Inc. acquired a new stake in McKesson in the fourth quarter valued at approximately $891,000. 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.