McKesson (NYSE:MCK) Stock Price Expected to Rise, Evercore ISI Analyst Says

McKesson (NYSE:MCK) had its price target increased by analysts at Evercore ISI from $650.00 to $675.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price suggests a potential upside of 15.20% from the company’s current price.

MCK has been the topic of a number of other reports. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Stock Down 3.5 %

McKesson stock traded down $20.96 during mid-day trading on Thursday, hitting $585.95. 564,646 shares of the company were exchanged, compared to its average volume of 707,628. The company has a market capitalization of $74.38 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business has a fifty day moving average of $589.61 and a 200 day moving average of $562.56. McKesson has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. Research analysts expect that McKesson will post 32.72 earnings per share for the current year.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its holdings in McKesson by 10.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,418 shares of the company’s stock worth $3,088,000 after acquiring an additional 506 shares in the last quarter. Schechter Investment Advisors LLC raised its holdings in shares of McKesson by 5.0% in the fourth quarter. Schechter Investment Advisors LLC now owns 5,529 shares of the company’s stock valued at $3,151,000 after purchasing an additional 262 shares during the last quarter. Mission Wealth Management LP increased its stake in McKesson by 49.5% in the 4th quarter. Mission Wealth Management LP now owns 2,486 shares of the company’s stock valued at $1,417,000 after buying an additional 823 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in shares of McKesson by 5.5% during the 4th quarter. Fidelis Capital Partners LLC now owns 3,355 shares of the company’s stock worth $2,012,000 after buying an additional 176 shares in the last quarter. Finally, LGT Fund Management Co Ltd. purchased a new position in shares of McKesson in the 4th quarter worth approximately $2,437,000. 85.07% of the stock is owned by 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.