McKesson (NYSE:MCK) Price Target Increased to $670.00 by Analysts at Citigroup

McKesson (NYSE:MCK) had its target price boosted by Citigroup from $620.00 to $670.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

MCK has been the subject of a number of other research reports. Robert W. Baird raised their price objective on shares of McKesson from $679.00 to $694.00 and gave the stock an outperform rating in a research note on Tuesday, July 9th. Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an overweight rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $547.00 to $545.00 and set a buy rating for the company in a research note on Thursday, May 9th. StockNews.com lowered shares of McKesson from a strong-buy rating to a buy rating in a research note on Tuesday, July 2nd. Finally, UBS Group lifted their target price on shares of McKesson from $620.00 to $630.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $599.33.

McKesson Stock Performance

McKesson stock opened at $580.13 on Friday. The firm’s 50 day moving average price is $579.20 and its two-hundred day moving average price is $538.94. McKesson has a 1 year low of $395.30 and a 1 year high of $612.17. The firm has a market cap of $75.38 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.35 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same period in the prior year, the business posted $7.19 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts predict that McKesson will post 31.67 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 11.08%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares in the company, valued at approximately $50,012,564.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares in the company, valued at approximately $50,012,564.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 12,752 shares of McKesson stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the transaction, the chief financial officer now owns 14,028 shares in the company, valued at approximately $7,828,886.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,567 shares of company stock worth $16,691,841. 0.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. LRI Investments LLC bought a new position in McKesson in the 1st quarter worth $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson during the 1st quarter worth about $29,000. Sachetta LLC bought a new position in shares of McKesson during the 4th quarter worth about $27,000. Newbridge Financial Services Group Inc. increased its holdings in shares of McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in shares of McKesson during the 4th quarter worth about $31,000. 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.