McKesson (NYSE:MCK) Price Target Raised to $914.00

McKesson (NYSE:MCK) had its price objective increased by Wells Fargo & Company from $816.00 to $914.00 in a report released on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also issued reports on the company. Citigroup raised their target price on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research note on Thursday, November 6th. UBS Group raised their price target on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Jefferies Financial Group upped their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. One research analyst has 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $887.69.

McKesson Price Performance

Shares of MCK opened at $841.01 on Monday. The company has a market capitalization of $103.80 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson has a one year low of $558.13 and a one year high of $867.63. The company’s fifty day moving average price is $767.30 and its 200 day moving average price is $727.61.

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 analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $7.07 earnings per share. Analysts anticipate that McKesson will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% 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 company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 24,189 shares of company stock worth $16,787,319. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in shares of McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after buying an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in McKesson during the first quarter worth about $289,000. Archford Capital Strategies LLC grew its stake in McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after acquiring an additional 1,372 shares during the period. Lynwood Price Capital Management LP increased its holdings in shares of McKesson by 18.3% in the second quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock worth $18,906,000 after acquiring an additional 4,000 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after purchasing an additional 17,750 shares during the period. 85.07% of the stock is currently owned by 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.