TD Cowen Boosts McKesson (NYSE:MCK) Price Target to $652.00

McKesson (NYSE:MCK) had its target price lifted by research analysts at TD Cowen from $563.00 to $652.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 20.36% from the stock’s current price.

A number of other equities analysts have also recently commented on MCK. Argus raised their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Robert W. Baird upped 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. Mizuho raised their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. UBS Group upped their price objective on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, SVB Leerink assumed coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $565.64.

McKesson Stock Down 0.7 %

Shares of MCK traded down $4.05 during trading on Wednesday, reaching $541.70. 917,355 shares of the company traded hands, compared to its average volume of 707,769. The stock has a 50-day simple moving average of $531.17 and a 200-day simple moving average of $493.81. The stock has a market cap of $71.18 billion, a PE ratio of 24.67, a price-to-earnings-growth 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 posted its 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 company had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter last year, the business posted $7.19 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts predict that McKesson will post 27.59 EPS for the current year.

Insider Buying and Selling

In other news, 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 directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction 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 approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On McKesson

A number of hedge funds have recently made changes to their positions in MCK. Intrust Bank NA bought a new position in shares of McKesson in the 4th quarter worth about $206,000. Raymond James & Associates lifted its holdings in shares of McKesson by 6.1% during the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of McKesson by 6.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after acquiring an additional 5,425 shares in the last quarter. Heritage Wealth Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at $1,538,000. Finally, Insight Wealth Strategies LLC acquired a new stake in McKesson during the 4th quarter worth about $1,813,000. 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.