McKesson (NYSE:MCK) Price Target Raised to $641.00

McKesson (NYSE:MCK) had its price objective boosted by Wells Fargo & Company from $535.00 to $641.00 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

MCK has been the topic of several other reports. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Citigroup boosted their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Evercore ISI raised their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $643.43.

McKesson Trading Down 0.5 %

Shares of MCK opened at $576.24 on Friday. McKesson has a 12-month low of $431.35 and a 12-month high of $637.51. The stock has a market cap of $73.15 billion, a P/E ratio of 29.84, a PEG ratio of 1.25 and a beta of 0.49. The company has a 50-day moving average of $564.01 and a two-hundred day moving average of $562.76.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.23 EPS. As a group, analysts forecast that McKesson will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.49%. McKesson’s payout ratio is 14.71%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

Institutional Investors Weigh In On McKesson

Hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. FMR LLC increased its stake in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares during the period. Geode Capital Management LLC lifted its holdings in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after buying an additional 26,299 shares in the last quarter. Legal & General Group Plc boosted its position in McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after buying an additional 36,583 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares in the last quarter. 85.07% of the stock is currently 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.