McKesson (NYSE:MCK) PT Lowered to $630.00

McKesson (NYSE:MCK) had its target price cut by Citigroup from $670.00 to $630.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on MCK. StockNews.com lowered McKesson from a strong-buy rating to a buy rating in a research note on Friday, August 9th. Robert W. Baird lowered their target price on shares of McKesson from $694.00 to $671.00 and set an outperform rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an overweight rating in a report on Wednesday, August 21st. Barclays boosted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an overweight rating in a research report on Thursday, August 8th. Finally, Argus raised their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a buy rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of Moderate Buy and an average price target of $622.07.

McKesson Stock Up 0.1 %

NYSE MCK opened at $511.17 on Tuesday. McKesson has a 52 week low of $417.65 and a 52 week high of $637.51. The firm has a market capitalization of $66.29 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.16 and a beta of 0.44. The company has a fifty day moving average of $568.71 and a two-hundred day moving average of $557.26.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the previous year, the company earned $7.27 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that McKesson will post 32.14 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s payout ratio is presently 12.69%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 11,259 shares of company stock worth $6,635,492 in the last three months. 0.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

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