McKesson (NYSE:MCK) PT Raised to $600.00 at Evercore ISI

McKesson (NYSE:MCK) had its price objective boosted by Evercore ISI from $590.00 to $600.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 9.97% from the stock’s current price.

Several other analysts have also recently issued reports on the company. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. UBS Group increased their price target on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday. SVB Leerink started coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective for the company. Robert W. Baird lifted their price target on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup boosted their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $559.29.

McKesson Price Performance

Shares of NYSE MCK traded down $0.16 during mid-day trading on Wednesday, hitting $545.59. 653,143 shares of the company’s stock traded hands, compared to its average volume of 704,779. The company has a market capitalization of $71.70 billion, a P/E ratio of 24.75, a PEG ratio of 1.41 and a beta of 0.45. The company’s 50-day moving average is $531.17 and its two-hundred day moving average is $493.81. McKesson has a 1 year low of $373.28 and a 1 year high of $566.01.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $7.19 EPS. Equities analysts anticipate that McKesson will post 27.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief executive officer now 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 corporate insiders.

Hedge Funds Weigh In On McKesson

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC increased its stake in McKesson by 1.7% during the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock worth $608,000 after buying an additional 19 shares during the period. KCM Investment Advisors LLC grew its stake in McKesson by 1.4% during the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after purchasing an additional 19 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in McKesson by 1.3% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company’s stock valued at $822,000 after purchasing an additional 19 shares in the last quarter. Douglass Winthrop Advisors LLC grew its position in shares of McKesson by 1.4% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after buying an additional 21 shares in the last quarter. Finally, Addison Advisors LLC raised its holdings in McKesson by 7.9% in the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock valued at $138,000 after acquiring an additional 22 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.