McKesson (NYSE:MCK) Stock Price Expected to Rise, UBS Group Analyst Says

McKesson (NYSE:MCK) had its target price boosted by research analysts at UBS Group from $920.00 to $980.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 16.10% from the stock’s current price.

Other research analysts have also issued research reports about the company. Morgan Stanley lifted their price target on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Finally, Mizuho lifted their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $866.69.

McKesson Price Performance

Shares of MCK stock traded down $0.13 during trading hours on Thursday, hitting $844.14. The stock had a trading volume of 571,785 shares, compared to its average volume of 846,842. McKesson has a one year low of $558.13 and a one year high of $863.32. The stock’s 50-day moving average price is $750.73 and its two-hundred day moving average price is $721.95. The stock has a market capitalization of $105.00 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 1.46 and a beta of 0.51.

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

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction 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 transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was 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 the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 24,189 shares of company stock valued at $16,722,190 in the last three months. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

A number of large investors have recently made changes to their positions in MCK. Stratos Investment Management LLC lifted its position in McKesson by 53.7% during the third quarter. Stratos Investment Management LLC now owns 1,974 shares of the company’s stock valued at $1,525,000 after purchasing an additional 690 shares during the period. MQS Management LLC acquired a new position in shares of McKesson in the third quarter worth about $485,000. Baader Bank Aktiengesellschaft acquired a new position in shares of McKesson in the third quarter worth about $437,000. Versor Investments LP raised its position in shares of McKesson by 18.8% during the 3rd quarter. Versor Investments LP now owns 701 shares of the company’s stock worth $542,000 after purchasing an additional 111 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in shares of McKesson by 4.0% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 2,014 shares of the company’s stock worth $1,556,000 after purchasing an additional 78 shares during the last quarter. 85.07% of the stock is 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.