Evercore ISI Raises McKesson (NYSE:MCK) Price Target to $675.00

McKesson (NYSE:MCK) had its target price raised by investment analysts at Evercore ISI from $650.00 to $675.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 13.30% from the stock’s current price.

Other analysts also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $645.79.

McKesson Stock Down 0.7 %

Shares of NYSE MCK opened at $595.77 on Thursday. McKesson has a 12 month low of $464.42 and a 12 month high of $637.51. The company has a market cap of $75.63 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 1.29 and a beta of 0.52. The business has a fifty day simple moving average of $589.05 and a 200-day simple moving average of $562.81.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. As a group, sell-side analysts expect that McKesson will post 32.72 EPS for the current fiscal year.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McKesson

A number of institutional investors have recently modified their holdings of MCK. Czech National Bank raised its holdings in McKesson by 6.6% in the 3rd quarter. Czech National Bank now owns 26,416 shares of the company’s stock worth $13,061,000 after acquiring an additional 1,645 shares during the period. Brookstone Capital Management grew its position in shares of McKesson by 15.2% in the third quarter. Brookstone Capital Management now owns 7,336 shares of the company’s stock valued at $3,627,000 after purchasing an additional 968 shares during the last quarter. Strategic Wealth Partners Ltd. increased its stake in shares of McKesson by 14.2% in the third quarter. Strategic Wealth Partners Ltd. now owns 660 shares of the company’s stock worth $326,000 after purchasing an additional 82 shares during the period. Sanibel Captiva Trust Company Inc. lifted its position in shares of McKesson by 2.9% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 38,161 shares of the company’s stock worth $18,868,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. grew its holdings in McKesson by 6.5% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 36,008 shares of the company’s stock valued at $17,803,000 after buying an additional 2,204 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Company Profile

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.