Evercore ISI Increases McKesson (NYSE:MCK) Price Target to $600.00

McKesson (NYSE:MCK) had its price target lifted by research analysts at Evercore ISI from $590.00 to $600.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 9.97% from the company’s current price.

A number of other equities research analysts have also commented on MCK. Morgan Stanley upped their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Mizuho upped their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Robert W. Baird lifted their target price on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday. Argus boosted their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Citigroup lifted their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $559.29.

McKesson Stock Down 0.0 %

Shares of MCK stock traded down $0.16 on Wednesday, reaching $545.59. The company had a trading volume of 653,143 shares, compared to its average volume of 704,779. McKesson has a one year low of $373.28 and a one year high of $566.01. The business’s 50-day moving average is $531.17 and its 200 day moving average is $493.81. The stock has a market capitalization of $71.70 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter last year, the business earned $7.19 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that McKesson will post 27.59 earnings per share for the current fiscal year.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were 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 of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On McKesson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Register Financial Advisors LLC bought a new stake in McKesson during the 1st quarter valued at $29,000. Sachetta LLC bought a new stake in shares of McKesson during the 4th quarter valued at $27,000. OFI Invest Asset Management bought a new position in McKesson in the 3rd quarter worth about $26,000. Newbridge Financial Services Group Inc. grew its holdings in McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after buying an additional 50 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in shares of McKesson during the fourth quarter valued at about $31,000. 85.07% of the stock is currently owned by institutional investors.

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.