Brokerages Set McKesson Co. (NYSE:MCK) Price Target at $610.86

Shares of McKesson Co. (NYSE:MCK) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $610.86.

Several analysts recently weighed in on the stock. Argus lifted their price objective on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Evercore ISI lowered their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. LRI Investments LLC purchased a new position in shares of McKesson in the first quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson in the first quarter worth $29,000. Richardson Financial Services Inc. purchased a new position in shares of McKesson during the fourth quarter valued at $31,000. Rise Advisors LLC acquired a new position in McKesson during the first quarter valued at $40,000. Finally, ORG Wealth Partners LLC purchased a new stake in McKesson in the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 0.8 %

Shares of MCK stock opened at $513.55 on Friday. The company has a market cap of $66.73 billion, a P/E ratio of 22.95, a PEG ratio of 1.17 and a beta of 0.44. McKesson has a 52 week low of $431.35 and a 52 week high of $637.51. The business has a 50 day moving average of $524.64 and a two-hundred day moving average of $552.71.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.27 EPS. Analysts expect that McKesson will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.55%. McKesson’s dividend payout ratio (DPR) is 12.69%.

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.