McKesson (NYSE:MCK) Price Target Raised to $745.00

McKesson (NYSE:MCK) had its target price increased by investment analysts at Morgan Stanley from $642.00 to $745.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 9.43% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $656.71.

McKesson Stock Performance

Shares of MCK stock opened at $680.78 on Wednesday. McKesson has a fifty-two week low of $464.42 and a fifty-two week high of $684.80. The firm has a market cap of $85.32 billion, a P/E ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.52. The business’s 50 day moving average price is $626.97 and its 200-day moving average price is $582.06.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts predict that McKesson will post 32.77 EPS for the current year.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,689 shares of company stock worth $11,187,351. Company insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital A Wealth Management LLC purchased a new stake in McKesson during the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the 4th quarter worth $32,000. Crews Bank & Trust bought a new position in McKesson in the 4th quarter worth $33,000. Finally, Atala Financial Inc purchased a new position in shares of McKesson during the 4th quarter valued at about $34,000. Hedge funds and other 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.