McKesson (NYSE:MCK) Price Target Raised to $630.00

McKesson (NYSE:MCK) had its price target boosted by UBS Group from $620.00 to $630.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently commented on MCK. Leerink Partnrs reiterated an outperform rating on shares of McKesson in a research report on Monday, February 26th. SVB Leerink began coverage on shares of McKesson in a research report on Monday, February 26th. They issued an outperform rating and a $600.00 target price for the company. Mizuho increased their target price 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. StockNews.com upgraded shares of McKesson from a buy rating to a strong-buy rating in a research report on Saturday, May 4th. Finally, Citigroup increased their target price on shares of McKesson from $575.00 to $620.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McKesson currently has a consensus rating of Moderate Buy and an average price target of $569.86.

McKesson Trading Up 1.5 %

NYSE:MCK traded up $8.42 during trading hours on Wednesday, reaching $552.03. 131,718 shares of the company were exchanged, compared to its average volume of 706,359. The stock’s 50-day moving average is $531.17 and its 200-day moving average is $493.81. The firm has a market cap of $72.54 billion, a PE ratio of 24.61, 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 quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.19 earnings per share. As a group, research analysts anticipate that McKesson will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is currently 11.24%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the 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 completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the 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 owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Register Financial Advisors LLC acquired a new stake in shares of McKesson during the first quarter worth about $29,000. Sachetta LLC acquired a new stake in shares of McKesson during the fourth quarter worth about $27,000. OFI Invest Asset Management acquired a new stake in shares of McKesson during the third quarter worth about $26,000. Newbridge Financial Services Group Inc. lifted its position in shares of McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of McKesson during the fourth quarter worth about $31,000. 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.