Deutsche Bank Aktiengesellschaft Lowers McKesson (NYSE:MCK) Price Target to $579.00

McKesson (NYSE:MCK) had its target price decreased by Deutsche Bank Aktiengesellschaft from $623.00 to $579.00 in a research note released on Wednesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on MCK. Baird R W cut McKesson from a strong-buy rating to a hold rating in a research report on Tuesday, September 24th. Barclays increased their price objective on McKesson from $596.00 to $616.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on McKesson from $576.00 to $535.00 and set an equal weight rating for the company in a research report on Friday, September 13th. Leerink Partners decreased their price objective on McKesson from $670.00 to $665.00 and set an outperform rating for the company in a research report on Thursday, September 5th. Finally, Robert W. Baird reaffirmed a neutral rating and set a $531.00 price objective (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $613.36.

McKesson Stock Up 1.9 %

NYSE:MCK opened at $488.25 on Wednesday. The stock’s 50 day moving average price is $550.84 and its 200 day moving average price is $555.40. The company has a market capitalization of $63.44 billion, a PE ratio of 21.82, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 negative return on equity of 242.57% and a net margin of 0.94%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.27 EPS. As a group, sell-side analysts anticipate that McKesson will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a $0.71 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 11,259 shares of company stock valued at $6,635,492 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Hedge funds have recently bought and sold shares of the stock. LRI Investments LLC purchased a new position in McKesson during the first quarter worth $28,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson in the first quarter valued at $29,000. Richardson Financial Services Inc. acquired a new position in McKesson in the fourth quarter valued at $31,000. Rise Advisors LLC acquired a new position in McKesson in the first quarter valued at $40,000. Finally, Carolinas Wealth Consulting LLC boosted its holdings in McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Company Profile

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.