Deutsche Bank Aktiengesellschaft Cuts McKesson (NYSE:MCK) Price Target to $545.00

McKesson (NYSE:MCK) had its target price cut by Deutsche Bank Aktiengesellschaft from $547.00 to $545.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential downside of 1.62% from the stock’s previous close.

Several other research analysts have also commented on the stock. Wells Fargo & Company raised their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday. Barclays upped their price target on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley upped their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Citigroup boosted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Leerink Partnrs reissued 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $571.47.

McKesson Stock Performance

NYSE MCK traded up $10.39 on Thursday, reaching $554.00. 352,629 shares of the stock traded hands, compared to its average volume of 708,988. The company has a market cap of $72.80 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.41 and a beta of 0.45. The company has a fifty day moving average price of $531.17 and a 200-day moving average price of $493.81. McKesson has a 12 month low of $373.28 and a 12 month high of $566.01.

McKesson (NYSE:MCK) last announced 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). The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $7.19 earnings per share. As a group, research analysts anticipate that McKesson will post 27.59 earnings per share for the current fiscal year.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $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 institutional investors have recently modified their holdings of MCK. Brown Advisory Inc. raised its position in McKesson by 5.8% in the third quarter. Brown Advisory Inc. now owns 4,066 shares of the company’s stock valued at $1,768,000 after purchasing an additional 222 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of McKesson by 6.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,926 shares of the company’s stock worth $15,188,000 after purchasing an additional 2,214 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of McKesson during the 3rd quarter valued at $1,912,000. Graypoint LLC raised its holdings in McKesson by 18.0% in the 3rd quarter. Graypoint LLC now owns 682 shares of the company’s stock worth $297,000 after acquiring an additional 104 shares during the period. Finally, Simmons Bank grew its position in McKesson by 5.1% during the third quarter. Simmons Bank now owns 942 shares of the company’s stock worth $410,000 after buying an additional 46 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

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.