McKesson (NYSE:MCK) Price Target Increased to $660.00 by Analysts at Evercore ISI

McKesson (NYSE:MCKFree Report) had its price target upped by Evercore ISI from $600.00 to $660.00 in a research note published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on MCK. Wells Fargo & Company lifted their price objective on McKesson from $502.00 to $551.00 and gave the company an equal weight rating in a research note on Thursday, May 9th. Bank of America boosted their price target on shares of McKesson from $590.00 to $670.00 and gave the stock a buy rating in a research note on Tuesday, June 25th. TD Cowen lifted their price objective on shares of McKesson from $563.00 to $652.00 and gave the company a buy rating in a report on Wednesday, May 8th. UBS Group increased their target price on shares of McKesson from $620.00 to $630.00 and gave the stock a buy rating in a report on Wednesday, May 8th. Finally, Citigroup boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $596.00.

Check Out Our Latest Research Report on McKesson

McKesson Stock Performance

MCK stock opened at $586.81 on Tuesday. The firm has a market cap of $76.25 billion, a PE ratio of 26.22, a PEG ratio of 1.37 and a beta of 0.45. McKesson has a one year low of $395.30 and a one year high of $612.17. The firm’s 50 day moving average price is $572.90 and its 200-day moving average price is $532.34.

McKesson (NYSE:MCKGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company earned $7.19 EPS. Equities research analysts predict that McKesson will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Insider Transactions at McKesson

In related news, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, EVP Thomas L. Rodgers sold 789 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the transaction, the executive vice president now directly owns 7,909 shares in the company, valued at $4,408,476.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Insiders have sold a total of 29,567 shares of company stock worth $16,691,841 over the last ninety days. 0.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MCK. LRI Investments LLC acquired a new position in McKesson during the first quarter worth about $28,000. Register Financial Advisors LLC purchased a new stake in McKesson in the 1st quarter valued at approximately $29,000. Sachetta LLC acquired a new stake in McKesson during the 4th quarter valued at $27,000. Newbridge Financial Services Group Inc. increased its position in McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after buying an additional 50 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in shares of McKesson in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.