McKesson (NYSE:MCK) Price Target Increased to $600.00 by Analysts at Evercore ISI

McKesson (NYSE:MCK) had its target price raised by Evercore ISI from $590.00 to $600.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently commented on MCK. SVB Leerink began coverage on McKesson in a research note on Monday, February 26th. They set an outperform rating and a $600.00 target price on the stock. Robert W. Baird lifted their price objective on McKesson from $603.00 to $671.00 and gave the stock an outperform rating in a report on Wednesday. Mizuho upped their target price on shares of McKesson from $450.00 to $505.00 and gave the company a neutral rating in a research note on Friday, February 9th. UBS Group boosted their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a buy rating in a report on Wednesday. Finally, StockNews.com upgraded shares of McKesson from a buy rating to a strong-buy rating in a report on Saturday, May 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $571.47.

McKesson Stock Up 2.1 %

Shares of NYSE MCK traded up $11.51 on Wednesday, reaching $555.12. 969,156 shares of the company’s stock traded hands, compared to its average volume of 716,168. The company has a market cap of $72.95 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The business’s 50 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.

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

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.45%. McKesson’s payout ratio is presently 11.08%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Institutional Trading of McKesson

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

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.