McKesson (NYSE:MCK) PT Raised to $630.00 at UBS Group

McKesson (NYSE:MCK) had its price target upped by UBS Group from $620.00 to $630.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 12.91% from the stock’s current price.

Several other research analysts have also recently commented on the company. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Robert W. Baird upped their price objective on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research note on Wednesday. SVB Leerink started coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Mizuho increased their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $571.47.

McKesson Trading Up 0.5 %

Shares of NYSE:MCK traded up $2.84 during midday trading on Wednesday, hitting $557.96. 49,764 shares of the stock were exchanged, compared to its average volume of 708,670. The company has a 50 day moving average price of $531.56 and a 200-day moving average price of $494.15. The stock has a market cap of $73.32 billion, a P/E ratio of 24.80, a PEG ratio of 1.41 and a beta of 0.45. McKesson has a twelve month low of $373.28 and a twelve month high of $566.01.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $79.32 billion. During the same quarter last year, the firm posted $7.19 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts expect that McKesson will post 27.59 earnings per share for the current year.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Leann B. Smith sold 186 shares of the company’s 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 in the company, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s 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 $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On McKesson

A number of hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after buying an additional 708,438 shares in the last quarter. Morgan Stanley lifted its holdings in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the period. Norges Bank purchased a new position in McKesson during the fourth quarter valued at $1,024,140,000. Putnam Investments LLC grew its stake in shares of McKesson by 3.2% in the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after acquiring an additional 50,265 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

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.