McKesson (NYSE:MCK) Price Target Raised to $916.00 at Morgan Stanley

McKesson (NYSE:MCK) had its target price boosted by Morgan Stanley from $857.00 to $916.00 in a research note issued to investors on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the company. UBS Group upped their price target on McKesson from $860.00 to $920.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Citigroup upped their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners lifted their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Finally, Evercore ISI boosted their price objective on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $880.15.

McKesson Price Performance

MCK stock traded down $7.84 during trading on Thursday, reaching $850.77. The company had a trading volume of 619,369 shares, compared to its average volume of 848,315. McKesson has a 52 week low of $558.13 and a 52 week high of $867.63. The business has a 50 day moving average of $754.25 and a 200 day moving average of $722.89. The company has a market cap of $105.82 billion, a P/E ratio of 33.92, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same period in the previous year, the firm posted $7.07 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Research analysts expect that McKesson will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is presently 10.21%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.

Institutional Trading of McKesson

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of McKesson by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after buying an additional 232,286 shares during the period. Geode Capital Management LLC boosted its stake in shares of McKesson by 4.1% in the second quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock worth $2,057,065,000 after acquiring an additional 112,224 shares during the period. Alliancebernstein L.P. grew its holdings in McKesson by 150.4% during the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after buying an additional 1,362,386 shares in the last quarter. Norges Bank purchased a new position in McKesson during the second quarter valued at $1,346,661,000. Finally, Northern Trust Corp increased its holdings in shares of McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after purchasing an additional 10,179 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.