Deutsche Bank Aktiengesellschaft Issues Positive Forecast for McKesson (NYSE:MCK) Stock Price

McKesson (NYSE:MCK) had its target price lifted by Deutsche Bank Aktiengesellschaft from $775.00 to $856.00 in a research note published on Wednesday morning, Marketbeat.com reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

MCK has been the topic of a number of other research reports. Evercore ISI increased their price target on McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. Cowen restated a “buy” rating on shares of McKesson in a report on Thursday, August 7th. Wells Fargo & Company boosted their target price on McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Finally, Bank of America upped their price target on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $826.91.

McKesson Trading Up 2.6%

McKesson stock opened at $760.73 on Wednesday. The company has a market cap of $94.62 billion, a PE ratio of 30.33, a PEG ratio of 1.43 and a beta of 0.51. McKesson has a 1 year low of $472.29 and a 1 year high of $770.00. The company’s 50-day moving average is $696.23 and its two-hundred day moving average is $697.91.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same period last year, the firm earned $7.88 earnings per share. The company’s quarterly revenue was up 23.4% on a year-over-year basis. Research analysts forecast that McKesson will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson’s payout ratio is 13.08%.

Insider Activity

In related news, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer directly owned 27,872 shares in the company, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock worth $30,438,602 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McKesson

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its holdings in McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares in the last quarter. Cardinal Point Capital Management ULC lifted its holdings in shares of McKesson by 2.2% in the second quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after purchasing an additional 14 shares in the last quarter. CVA Family Office LLC boosted its position in shares of McKesson by 6.0% during the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock worth $178,000 after buying an additional 15 shares during the period. Palisade Asset Management LLC boosted its position in shares of McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after buying an additional 15 shares during the period. Finally, SteelPeak Wealth LLC grew its holdings in shares of McKesson by 0.5% during the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after buying an additional 15 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.