McKesson (NYSE:MCK) Given New $596.00 Price Target at Barclays

McKesson (NYSE:MCK) had its price target increased by research analysts at Barclays from $571.00 to $596.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 7.36% from the company’s previous close.

A number of other research firms have also recently commented on MCK. Robert W. Baird increased their target price on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Evercore ISI lifted their target price on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday. SVB Leerink assumed coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $571.47.

McKesson Stock Up 2.1 %

Shares of McKesson stock opened at $555.12 on Wednesday. The company’s fifty day simple moving average is $531.56 and its two-hundred day simple moving average is $494.15. McKesson has a 12-month low of $373.28 and a 12-month high of $566.01. The firm has a market cap of $72.95 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter in the previous year, the business earned $7.19 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts expect that McKesson will post 27.59 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On McKesson

Large investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. grew its stake in McKesson by 5.8% in the third quarter. Brown Advisory Inc. now owns 4,066 shares of the company’s stock valued at $1,768,000 after purchasing an additional 222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of McKesson by 6.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,926 shares of the company’s stock worth $15,188,000 after buying an additional 2,214 shares during the last quarter. NBT Bank N A NY bought a new position in shares of McKesson during the 3rd quarter worth approximately $312,000. Park Avenue Securities LLC purchased a new stake in McKesson during the third quarter valued at approximately $1,912,000. Finally, Keel Point LLC acquired a new stake in McKesson in the third quarter valued at approximately $201,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.