McKesson (NYSE:MCK) PT Raised to $694.00 at Robert W. Baird

McKesson (NYSE:MCK) had its target price lifted by investment analysts at Robert W. Baird from $679.00 to $694.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 18.26% from the stock’s previous close.

MCK has been the topic of a number of other research reports. UBS Group lifted their price target on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Citigroup boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Argus raised their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Morgan Stanley boosted their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company raised their target price on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $596.00.

McKesson Trading Up 0.0 %

NYSE:MCK opened at $586.82 on Tuesday. The company has a 50-day moving average of $574.01 and a 200-day moving average of $532.72. McKesson has a twelve month low of $395.30 and a twelve month high of $612.17. The firm has a market cap of $76.25 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $7.19 EPS. On average, research analysts forecast that McKesson will post 31.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the transaction, the chief executive officer now owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the sale, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Britt J. Vitalone sold 12,752 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the transaction, the chief financial officer now owns 14,028 shares in the company, valued at $7,828,886.52. The disclosure for this sale can be found here. Insiders sold 29,567 shares of company stock valued at $16,691,841 over the last quarter. Insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after acquiring an additional 46,659 shares during the period. Norges Bank acquired a new position in McKesson during the 4th quarter valued at $1,024,140,000. Putnam Investments LLC boosted its holdings in McKesson by 3.2% in the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after purchasing an additional 62,242 shares during the period. Swedbank AB bought a new position in shares of McKesson during the 1st quarter worth about $669,326,000. Finally, Boston Partners raised its position in shares of McKesson by 4.1% during the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

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.