Citigroup Issues Pessimistic Forecast for McKesson (NYSE:MCK) Stock Price

McKesson (NYSE:MCK) had its price objective dropped by Citigroup from $713.00 to $677.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 16.38% from the company’s current price.

MCK has been the topic of a number of other reports. Morgan Stanley upped their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Stock Down 1.4 %

NYSE:MCK opened at $581.73 on Friday. McKesson has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a market capitalization of $73.84 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 1.25 and a beta of 0.52. The stock’s 50 day moving average price is $592.54 and its two-hundred day moving average price is $561.16.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.23 EPS. Equities research analysts expect that McKesson will post 32.73 EPS for the current year.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

A number of institutional investors and hedge funds have recently bought and sold shares of MCK. Wolff Wiese Magana LLC grew its holdings in shares of McKesson by 742.9% during 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 during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in shares of McKesson during the third quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds 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.