Brokerages Set McKesson Co. (NYSE:MCK) Target Price at $571.47

McKesson Co. (NYSE:MCKGet Free Report) has received an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $571.47.

Several equities analysts recently commented on MCK shares. Barclays upped their price target on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. UBS Group increased their price objective on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Argus raised their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Robert W. Baird upped their price target on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th.

Check Out Our Latest Stock Analysis on McKesson

Insiders Place Their Bets

In related news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Insiders have sold a total of 4,080 shares of company stock valued at $2,160,489 in the last quarter. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On McKesson

Large investors have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in McKesson during the 3rd quarter worth $26,000. Sachetta LLC acquired a new position in McKesson during the 4th quarter valued at about $27,000. Register Financial Advisors LLC bought a new stake in McKesson during the first quarter worth approximately $29,000. BKM Wealth Management LLC bought a new position in McKesson during the 4th quarter valued at $31,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of McKesson during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.1 %

Shares of McKesson stock opened at $564.07 on Thursday. McKesson has a fifty-two week low of $373.28 and a fifty-two week high of $566.16. The business’s fifty day moving average is $536.35 and its two-hundred day moving average is $500.38. The firm has a market cap of $73.32 billion, a PE ratio of 25.20, a P/E/G ratio of 1.33 and a beta of 0.45.

McKesson (NYSE:MCKGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $7.19 earnings per share. Equities research analysts anticipate that McKesson will post 31.55 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s payout ratio is currently 11.08%.

About McKesson

(Get Free Report

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.

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Analyst Recommendations for McKesson (NYSE:MCK)

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