McKesson (NYSE:MCK) Given New $713.00 Price Target at Citigroup

McKesson (NYSE:MCK) had its price target hoisted by Citigroup from $630.00 to $713.00 in a report released on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

MCK has been the subject of a number of other reports. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Evercore ISI increased their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Barclays upped their price target 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. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Stock Performance

Shares of NYSE MCK opened at $606.29 on Wednesday. McKesson has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a market cap of $76.96 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The stock has a fifty day moving average of $520.01 and a 200-day moving average of $554.41.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 EPS. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts predict that McKesson will post 32.81 EPS for the current year.

McKesson Announces Dividend

The business also recently announced 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. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in McKesson in the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the 3rd quarter valued at $31,000. Finally, ORG Wealth Partners LLC purchased a new stake in McKesson in the 3rd quarter worth $40,000. Hedge funds and other institutional investors 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.