McKesson Co. (NYSE:MCK) Receives $646.14 Average Target Price from Analysts

McKesson Co. (NYSE:MCK) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $646.14.

A number of research analysts recently weighed in on MCK shares. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company upped their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th.

McKesson Stock Up 2.2 %

Shares of NYSE MCK opened at $597.31 on Tuesday. McKesson has a 52-week low of $464.42 and a 52-week high of $637.51. The business’s 50 day moving average is $593.20 and its two-hundred day moving average is $561.23. The firm has a market cap of $75.82 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.27 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.23 EPS. Analysts anticipate that McKesson will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McKesson

Institutional investors have recently modified their holdings of the business. Caprock Group LLC grew its position in McKesson by 9.0% during the 4th quarter. Caprock Group LLC now owns 7,900 shares of the company’s stock worth $4,508,000 after purchasing an additional 652 shares during the last quarter. Narus Financial Partners LLC acquired a new position in McKesson in the 4th quarter valued at about $215,000. Evernest Financial Advisors LLC purchased a new stake in McKesson during the 4th quarter valued at approximately $490,000. Hunter Associates Investment Management LLC lifted its position in McKesson by 14.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 801 shares of the company’s stock worth $457,000 after acquiring an additional 100 shares during the period. Finally, Cibc World Market Inc. grew its stake in shares of McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares during the last quarter. 85.07% of the stock is 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.