Analysts Set McKesson Corporation (NYSE:MCK) Target Price at $887.69

McKesson Corporation (NYSE:MCK) has been given an average recommendation of “Moderate Buy” by the seventeen research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $887.6923.

A number of equities analysts have recently issued reports on MCK shares. Bank of America upped their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners upped their target price on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Morgan Stanley increased their price target on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Zacks Research raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Jefferies Financial Group boosted their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th.

McKesson Stock Performance

NYSE:MCK opened at $854.43 on Monday. The company’s 50-day simple moving average is $782.75 and its 200-day simple moving average is $732.68. McKesson has a fifty-two week low of $558.13 and a fifty-two week high of $867.63. The stock has a market capitalization of $105.46 billion, a P/E ratio of 34.07, a P/E/G 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 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same quarter in the previous year, the business posted $7.07 EPS. McKesson’s revenue was up 10.2% on a year-over-year basis. On average, research analysts forecast that McKesson will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend 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 news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCK. Obsidian Personal Planning Solutions LLC lifted its holdings in shares of McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after buying an additional 12 shares during the period. IAM Advisory LLC raised its position in McKesson by 0.3% during the third quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock valued at $3,019,000 after acquiring an additional 13 shares in the last quarter. PDS Planning Inc lifted its holdings in McKesson by 1.1% in the third quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock valued at $934,000 after acquiring an additional 13 shares during the period. Berkshire Asset Management LLC PA boosted its position in McKesson by 4.6% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock worth $227,000 after purchasing an additional 13 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.