McKesson (NYSE:MCK) PT Raised to $548.00

McKesson (NYSE:MCK) had its target price increased by Morgan Stanley from $522.00 to $548.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued research reports about the company. Barclays initiated coverage on McKesson in a research note on Wednesday, January 3rd. They issued an overweight rating and a $537.00 price objective on the stock. Citigroup boosted their price objective on McKesson from $530.00 to $575.00 and gave the stock a buy rating in a research note on Thursday, February 8th. StockNews.com downgraded McKesson from a strong-buy rating to a buy rating in a research note on Thursday, January 4th. UBS Group boosted their price objective on McKesson from $575.00 to $620.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Finally, Leerink Partnrs reissued an outperform rating on shares of McKesson in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has an average rating of Moderate Buy and an average target price of $533.50.

McKesson Price Performance

Shares of McKesson stock opened at $525.92 on Monday. The business’s fifty day moving average price is $523.95 and its two-hundred day moving average price is $485.48. The company has a market capitalization of $69.11 billion, a P/E ratio of 23.83, a PEG ratio of 1.42 and a beta of 0.45. McKesson has a 1-year low of $352.34 and a 1-year high of $543.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.90 EPS. On average, research analysts expect that McKesson will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio is 11.24%.

Insider Activity

In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Trilogy Capital Inc. purchased a new position in McKesson in the first quarter valued at about $280,000. Cornerstone Wealth Group LLC lifted its position in shares of McKesson by 12.7% in the first quarter. Cornerstone Wealth Group LLC now owns 648 shares of the company’s stock worth $348,000 after buying an additional 73 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in shares of McKesson by 24.1% in the first quarter. New Mexico Educational Retirement Board now owns 8,752 shares of the company’s stock worth $4,699,000 after buying an additional 1,700 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of McKesson by 0.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 18,888 shares of the company’s stock worth $10,140,000 after buying an additional 158 shares during the last quarter. Finally, New England Research & Management Inc. acquired a new stake in shares of McKesson in the first quarter worth about $832,000. Hedge funds and other 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.