Cowen Increases McKesson (NYSE:MCK) Price Target to $186.00

McKesson (NYSE:MCK) had its price target raised by equities researchers at Cowen from $174.00 to $186.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the stock. Cowen’s price objective would indicate a potential upside of 24.48% from the company’s current price.

Several other equities research analysts also recently issued reports on MCK. Deutsche Bank dropped their price target on shares of McKesson from $173.00 to $169.00 and set a “hold” rating on the stock in a research note on Thursday. Morgan Stanley dropped their price target on shares of McKesson from $182.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. JPMorgan Chase & Co. lifted their price target on shares of McKesson from $186.00 to $187.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Credit Suisse Group began coverage on shares of McKesson in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $146.00 price target on the stock. Finally, Goldman Sachs Group raised shares of McKesson from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $173.00 to $174.00 in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $168.50.

Shares of NYSE:MCK traded up $3.60 during midday trading on Thursday, hitting $149.42. 902,930 shares of the company’s stock traded hands, compared to its average volume of 1,730,228. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.56 and a current ratio of 0.99. The company has a market cap of $25.80 billion, a PE ratio of 29.13, a P/E/G ratio of 1.60 and a beta of 0.82. The firm’s fifty day moving average price is $136.14 and its two-hundred day moving average price is $142.81. McKesson has a twelve month low of $112.60 and a twelve month high of $172.18.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, May 20th. The company reported $4.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.10 by $0.17. The business had revenue of $58.54 billion for the quarter, compared to analyst estimates of $55.60 billion. McKesson had a net margin of 0.39% and a return on equity of 41.07%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.69 EPS. As a group, equities research analysts anticipate that McKesson will post 15.01 EPS for the current fiscal year.

In other news, CEO Brian S. Tyler sold 4,063 shares of McKesson stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $135.00, for a total value of $548,505.00. Following the completion of the transaction, the chief executive officer now directly owns 16,255 shares of the company’s stock, valued at approximately $2,194,425. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 8,187 shares of company stock valued at $1,064,057 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of McKesson by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,593,271 shares of the company’s stock valued at $756,547,000 after buying an additional 95,912 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of McKesson by 3.1% in the 4th quarter. Pzena Investment Management LLC now owns 3,760,595 shares of the company’s stock valued at $520,166,000 after buying an additional 114,261 shares during the period. Geode Capital Management LLC boosted its holdings in shares of McKesson by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,905,608 shares of the company’s stock valued at $401,103,000 after buying an additional 65,330 shares during the period. AQR Capital Management LLC boosted its holdings in shares of McKesson by 21.4% in the 4th quarter. AQR Capital Management LLC now owns 2,766,586 shares of the company’s stock valued at $379,797,000 after buying an additional 487,887 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in McKesson by 60.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,211,474 shares of the company’s stock valued at $299,122,000 after purchasing an additional 832,260 shares during the period. 84.96% of the stock is owned by institutional investors and hedge funds.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Analyst Recommendations for McKesson (NYSE:MCK)

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