McKesson (NYSE:MCK) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

McKesson (NYSE:MCK) had its price objective raised by Wells Fargo & Company from $641.00 to $691.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.15% from the stock’s current price.

MCK has been the topic of a number of other research reports. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $649.36.

McKesson Trading Up 1.1 %

NYSE MCK opened at $650.96 on Friday. McKesson has a 1 year low of $464.42 and a 1 year high of $663.62. The company has a market cap of $81.58 billion, a PE ratio of 29.81, a PEG ratio of 1.29 and a beta of 0.52. The stock’s 50-day moving average price is $608.54 and its two-hundred day moving average price is $570.85.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. Research analysts forecast that McKesson will post 32.77 EPS for the current fiscal year.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,689 shares of company stock valued at $11,187,351. Corporate insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. increased its position in McKesson by 3.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,090 shares of the company’s stock worth $1,528,000 after acquiring an additional 98 shares during the period. Huntington National Bank increased its holdings in shares of McKesson by 5.9% during the 3rd quarter. Huntington National Bank now owns 6,236 shares of the company’s stock worth $3,083,000 after purchasing an additional 347 shares during the period. Metis Global Partners LLC raised its position in shares of McKesson by 2.1% during the third quarter. Metis Global Partners LLC now owns 5,840 shares of the company’s stock valued at $2,887,000 after buying an additional 120 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of McKesson by 64.1% in the third quarter. Impax Asset Management Group plc now owns 1,805 shares of the company’s stock valued at $892,000 after buying an additional 705 shares during the period. Finally, King Wealth Management Group acquired a new stake in McKesson during the third quarter worth about $264,000. Institutional investors and hedge funds 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.