McKesson (NYSE:MCK) Price Target Raised to $805.00

McKesson (NYSE:MCK) had its price objective lifted by UBS Group from $708.00 to $805.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

MCK has been the subject of several other reports. Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Bank of America lifted their target price on shares of McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $681.00.

McKesson Price Performance

NYSE MCK opened at $706.54 on Tuesday. The company’s fifty day moving average is $669.64 and its two-hundred day moving average is $611.97. McKesson has a 52-week low of $464.42 and a 52-week high of $728.32. The firm has a market capitalization of $88.55 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts expect that McKesson will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson’s payout ratio is 13.00%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,110 shares of company stock worth $10,855,706. Insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Large investors have recently made changes to their positions in the company. CVA Family Office LLC lifted its position in McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company’s stock valued at $178,000 after purchasing an additional 15 shares during the period. Palisade Asset Management LLC lifted its holdings in McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock valued at $481,000 after buying an additional 15 shares during the period. SteelPeak Wealth LLC boosted its stake in McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after acquiring an additional 15 shares during the last quarter. Parallel Advisors LLC grew its holdings in McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock worth $1,683,000 after acquiring an additional 16 shares during the period. Finally, Frank Rimerman Advisors LLC raised its position in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 85.07% 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.