McKesson (NYSE:MCK) Stock Price Target Raised at Mizuho

McKesson (NYSE:MCK) had its target price increased by equities research analysts at Mizuho from $905.00 to $1,020.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price would indicate a potential upside of 0.79% from the company’s previous close.

Several other analysts have also recently issued reports on MCK. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank Of Canada reissued a “sector perform” rating and set a $845.00 price objective on shares of McKesson in a report on Monday, September 14th. TD Cowen boosted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Leerink Partners upped their target price on shares of McKesson from $1,030.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Wednesday, October 7th. Finally, Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research note on Thursday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $997.12.

McKesson Stock Up 0.7%

Shares of NYSE MCK opened at $1,012.03 on Tuesday. McKesson has a fifty-two week low of $723.68 and a fifty-two week high of $1,014.99. The business has a 50 day moving average price of $900.34 and a two-hundred day moving average price of $838.37. The firm has a market cap of $117.99 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 2.00 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same period in the prior year, the company posted $8.26 EPS. McKesson’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts anticipate that McKesson will post 44.71 earnings per share for the current year.

Insider Buying and Selling at McKesson

In other news, EVP Francisco Fraga sold 800 shares of McKesson stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $995.80, for a total value of $796,640.00. Following the completion of the transaction, the executive vice president directly owned 5,423 shares of the company’s stock, valued at approximately $5,400,223.40. The trade was a 12.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of McKesson stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. This trade represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,212 shares of company stock worth $1,164,182 over the last 90 days. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On McKesson

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vision Capital Management Inc. acquired a new stake in shares of McKesson in the 3rd quarter valued at $203,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in McKesson by 0.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,401 shares of the company’s stock worth $14,857,000 after buying an additional 118 shares during the last quarter. CWA Asset Management Group LLC increased its position in McKesson by 4.8% during the third quarter. CWA Asset Management Group LLC now owns 1,062 shares of the company’s stock worth $907,000 after buying an additional 49 shares during the last quarter. Grandview Asset Management LLC raised its holdings in McKesson by 16.4% during the third quarter. Grandview Asset Management LLC now owns 376 shares of the company’s stock valued at $321,000 after buying an additional 53 shares in the last quarter. Finally, Investment Research Partners LLC raised its holdings in McKesson by 1.5% during the third quarter. Investment Research Partners LLC now owns 1,736 shares of the company’s stock valued at $1,483,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.