McKesson (NYSE:MCK) Price Target Raised to $680.00

McKesson (NYSE:MCK) had its price objective raised by Evercore ISI from $560.00 to $680.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays upped their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Mizuho upped their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $625.64.

McKesson Trading Up 0.9 %

Shares of NYSE:MCK traded up $5.49 on Thursday, hitting $613.00. The company had a trading volume of 1,270,690 shares, compared to its average volume of 846,233. McKesson has a 1-year low of $431.35 and a 1-year high of $637.51. The stock has a market cap of $79.49 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 1.29 and a beta of 0.44. The stock has a 50 day moving average price of $513.03 and a 200 day moving average price of $551.60.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 243.82%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the company earned $6.23 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Sell-side analysts anticipate that McKesson will post 31.92 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Large investors have recently modified their holdings of the company. Norden Group LLC bought a new position in McKesson during the 1st quarter valued at $295,000. Geneos Wealth Management Inc. lifted its stake in McKesson by 16.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the company’s stock valued at $320,000 after acquiring an additional 84 shares in the last quarter. Duality Advisers LP bought a new stake in shares of McKesson during the 1st quarter worth $571,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of McKesson by 5.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 17,070 shares of the company’s stock worth $9,164,000 after purchasing an additional 915 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of McKesson by 206.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,672 shares of the company’s stock worth $1,971,000 after purchasing an additional 2,473 shares during the period. 85.07% of the stock is currently owned by institutional investors.

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.