McKesson (NYSE:MCK) Price Target Raised to $670.00

McKesson (NYSE:MCK) had its target price increased by stock analysts at Argus from $570.00 to $670.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Argus’ price objective indicates a potential upside of 11.10% from the stock’s previous close.

MCK has been the subject of several other reports. Robert W. Baird upped their target price on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Citigroup lifted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley lifted their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $578.13.

McKesson Price Performance

NYSE MCK opened at $603.08 on Monday. The business has a fifty day moving average price of $558.51 and a two-hundred day moving average price of $520.62. McKesson has a fifty-two week low of $395.30 and a fifty-two week high of $606.32. The stock has a market capitalization of $78.39 billion, a PE ratio of 26.95, a PEG ratio of 1.41 and a beta of 0.47.

McKesson (NYSE:MCK) last released its 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). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter in the previous year, the company earned $7.19 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that McKesson will post 31.54 earnings per share for the current year.

Insider Activity

In related news, CFO Britt J. Vitalone sold 12,752 shares of McKesson stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the transaction, the chief financial officer now owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Britt J. Vitalone sold 12,752 shares of McKesson stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the transaction, the chief financial officer now owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Insiders sold a total of 25,814 shares of company stock worth $14,511,649 over the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MCK. First Western Trust Bank boosted its stake in shares of McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after buying an additional 18 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of McKesson by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock worth $608,000 after buying an additional 19 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in shares of McKesson by 1.4% in the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after buying an additional 19 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of McKesson by 1.3% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company’s stock worth $822,000 after buying an additional 19 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC boosted its stake in shares of McKesson by 1.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after buying an additional 21 shares during 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.