McKesson (NYSE:MCK) Given New $620.00 Price Target at Citigroup

McKesson (NYSE:MCK) had its price target upped by equities research analysts at Citigroup from $575.00 to $620.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 15.43% from the company’s previous close.

MCK has been the topic of a number of other research reports. Mizuho increased their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Barclays initiated coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price for the company. SVB Leerink started coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Finally, Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $536.71.

McKesson Stock Up 0.2 %

McKesson stock traded up $1.02 during trading on Tuesday, hitting $537.11. The stock had a trading volume of 70,491 shares, compared to its average volume of 685,190. McKesson has a 1 year low of $352.34 and a 1 year high of $544.81. The stock’s 50 day moving average is $528.65 and its two-hundred day moving average is $490.49. The stock has a market cap of $70.58 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the previous year, the firm posted $6.90 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson will post 27.59 EPS for the current fiscal year.

Insider Activity

In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was 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 directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On McKesson

Several institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC lifted its stake in McKesson by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after buying an additional 19 shares in the last quarter. Douglass Winthrop Advisors LLC grew its position in McKesson by 1.4% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after acquiring an additional 21 shares during the period. Addison Advisors LLC raised its holdings in McKesson by 7.9% in the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock valued at $138,000 after buying an additional 22 shares during the period. Evergreen Wealth Solutions LLC lifted its holdings in shares of McKesson by 1.2% in the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock worth $894,000 after acquiring an additional 22 shares during the last quarter. Finally, First Personal Financial Services boosted its position in shares of McKesson by 1.5% during the first quarter. First Personal Financial Services now owns 1,514 shares of the company’s stock worth $813,000 after buying an additional 23 shares during the period. 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.