McKesson (NYSE:MCK) PT Lowered to $535.00 at Wells Fargo & Company

McKesson (NYSE:MCK) had its target price reduced by analysts at Wells Fargo & Company from $576.00 to $535.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 3.12% from the company’s current price.

Several other equities research analysts have also recently issued reports on MCK. Mizuho lifted their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Bank of America boosted their price target on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Citigroup decreased their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Argus raised their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $620.93.

McKesson Price Performance

Shares of NYSE:MCK traded up $7.64 during mid-day trading on Friday, reaching $518.81. 948,956 shares of the company traded hands, compared to its average volume of 774,964. McKesson has a 52 week low of $417.65 and a 52 week high of $637.51. The firm has a market cap of $67.28 billion, a PE ratio of 23.16, a PEG ratio of 1.18 and a beta of 0.44. The company’s 50 day moving average price is $568.71 and its 200-day moving average price is $557.26.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $7.27 EPS. On average, research analysts predict that McKesson will post 32.11 earnings per share for the current fiscal year.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 11,259 shares of company stock worth $6,635,492 in the last quarter. 0.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On McKesson

Institutional investors have recently modified their holdings of the stock. LRI Investments LLC bought a new stake in McKesson during the 1st quarter valued at $28,000. Register Financial Advisors LLC bought a new position in McKesson during the 1st quarter worth about $29,000. Sachetta LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $27,000. Newbridge Financial Services Group Inc. lifted its position in shares of McKesson by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in shares of McKesson during the fourth quarter valued at approximately $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.