UBS Group Increases McKesson (NYSE:MCK) Price Target to $630.00

McKesson (NYSE:MCK) had its price objective lifted by investment analysts at UBS Group from $620.00 to $630.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 12.91% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Citigroup increased their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Argus increased their price target on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Mizuho boosted their price objective on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Robert W. Baird raised their price objective on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $571.47.

McKesson Stock Up 0.5 %

Shares of MCK traded up $2.84 during midday trading on Wednesday, reaching $557.96. 49,764 shares of the stock were exchanged, compared to its average volume of 708,670. McKesson has a twelve month low of $373.28 and a twelve month high of $566.01. The company has a market cap of $73.32 billion, a P/E ratio of 24.80, a PEG ratio of 1.41 and a beta of 0.45. The stock’s 50 day simple moving average is $531.56 and its 200 day simple moving average is $494.15.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the firm earned $7.19 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts predict that McKesson will post 27.59 earnings per share for the current year.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Leann B. Smith sold 186 shares of McKesson 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 transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred 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 sale, 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 corporate insiders.

Institutional Investors Weigh In On McKesson

Several institutional investors have recently bought and sold shares of MCK. Councilmark Asset Management LLC acquired a new position in McKesson during the 1st quarter valued at about $5,160,000. Cumberland Partners Ltd lifted its stake in shares of McKesson by 5.8% during the first quarter. Cumberland Partners Ltd now owns 11,535 shares of the company’s stock worth $6,193,000 after buying an additional 636 shares during the period. Banco BTG Pactual S.A. acquired a new stake in McKesson during the 1st quarter worth about $285,000. RFP Financial Group LLC grew its stake in McKesson by 24.3% during the 1st quarter. RFP Financial Group LLC now owns 174 shares of the company’s stock valued at $93,000 after purchasing an additional 34 shares during the last quarter. Finally, Great Lakes Retirement Inc. boosted its position in McKesson by 46.4% in the first quarter. Great Lakes Retirement Inc. now owns 7,542 shares of the company’s stock valued at $4,049,000 after buying an additional 2,392 shares during the last quarter. 85.07% of the stock is currently 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.