Mizuho Forecasts Strong Price Appreciation for McKesson (NYSE:MCK) Stock

McKesson (NYSE:MCK) had its target price raised by equities research analysts at Mizuho from $630.00 to $690.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price target would indicate a potential upside of 1.11% from the company’s previous close.

Other analysts also recently issued reports about the stock. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $661.00.

McKesson Stock Down 4.8 %

Shares of MCK stock opened at $682.41 on Thursday. The company’s fifty day simple moving average is $633.37 and its two-hundred day simple moving average is $584.91. McKesson has a 52 week low of $464.42 and a 52 week high of $728.32. The stock has a market cap of $85.52 billion, a P/E ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts anticipate that McKesson will post 32.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 over the last quarter. 0.11% of the stock is owned by corporate insiders.

Institutional Trading of McKesson

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Frank Rimerman Advisors LLC boosted its position in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after purchasing an additional 17 shares in the last quarter. Old North State Trust LLC boosted its holdings in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after buying an additional 18 shares in the last quarter. Trust Co. of Vermont grew its position in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management raised its stake in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares in the last quarter. Finally, First Western Trust Bank lifted its position in McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after acquiring an additional 18 shares during the last quarter. 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.