McKesson (NYSE:MCK) Price Target Raised to $660.00 at Evercore ISI

McKesson (NYSE:MCK) had its target price boosted by analysts at Evercore ISI from $600.00 to $660.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 12.47% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup upped their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. UBS Group lifted their target price on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Bank of America lifted their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $596.00.

McKesson Trading Up 0.0 %

McKesson stock opened at $586.82 on Tuesday. McKesson has a 1-year low of $395.30 and a 1-year high of $612.17. The firm’s fifty day simple moving average is $574.01 and its 200-day simple moving average is $532.72. The company has a market capitalization of $76.25 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.38 and a beta of 0.45.

McKesson (NYSE:MCK) last posted 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 company had revenue of $76.36 billion for 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 quarter last year, the business earned $7.19 earnings per share. On average, equities research analysts predict that McKesson will post 31.53 earnings per share for the current year.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 704 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $392,895.36. Following the completion of the transaction, the executive vice president now owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, EVP Leann B. Smith sold 704 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the sale, the executive vice president now directly owns 2,215 shares in the company, valued at $1,236,169.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total value of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The disclosure for this sale can be found here. In the last three months, insiders sold 29,567 shares of company stock valued at $16,691,841. Company insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Large investors have recently added to or reduced their stakes in the company. Intrust Bank NA bought a new stake in McKesson during the 4th quarter worth approximately $206,000. Raymond James & Associates grew its holdings in shares of McKesson by 6.1% during the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock worth $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of McKesson by 6.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after buying an additional 5,425 shares in the last quarter. Heritage Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter valued at about $1,538,000. Finally, Insight Wealth Strategies LLC acquired a new position in McKesson during the 4th quarter worth about $1,813,000. 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.