McKesson (NYSE:MCK) Price Target Raised to $916.00 at Morgan Stanley

McKesson (NYSE:MCK) had its price objective hoisted by analysts at Morgan Stanley from $857.00 to $916.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 8.50% from the stock’s previous close.

MCK has been the subject of several other reports. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Jefferies Financial Group boosted their price target on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Mizuho boosted their price target on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. UBS Group upped their target price on McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Finally, Evercore ISI upped their target price on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $843.69.

McKesson Stock Down 0.0%

Shares of MCK stock traded down $0.06 during trading on Thursday, reaching $844.20. 218,283 shares of the company’s stock were exchanged, compared to its average volume of 845,264. The stock has a market capitalization of $105.01 billion, a PE ratio of 33.67, a PEG ratio of 1.46 and a beta of 0.52. McKesson has a twelve month low of $558.13 and a twelve month high of $863.32. The firm’s fifty day moving average price is $750.73 and its 200-day moving average price is $721.95.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $7.07 EPS. As a group, analysts anticipate that McKesson will post 32.77 EPS for the current fiscal year.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,189 shares of company stock valued at $16,722,190 in the last quarter. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McKesson

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of McKesson by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock worth $8,846,186,000 after purchasing an additional 232,286 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of McKesson by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock valued at $2,057,065,000 after acquiring an additional 112,224 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of McKesson by 150.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after acquiring an additional 1,362,386 shares during the last quarter. Norges Bank bought a new stake in shares of McKesson in the 2nd quarter valued at about $1,346,661,000. Finally, Northern Trust Corp lifted its stake in shares of McKesson by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after acquiring an additional 10,179 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.