McKesson (NYSE:MCK) PT Lowered to $630.00

McKesson (NYSE:MCK) had its target price reduced by research analysts at Leerink Partners from $665.00 to $630.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ target price suggests a potential upside of 27.25% from the stock’s current price.

Other analysts have also recently issued reports about the company. Citigroup cut their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Bank of America increased their price objective 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. Barclays lifted their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Argus increased their price objective on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a 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 MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Trading Up 2.4 %

MCK opened at $495.09 on Monday. The firm’s fifty day simple moving average is $538.27 and its 200 day simple moving average is $554.00. The stock has a market capitalization of $64.33 billion, a P/E ratio of 21.81, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same period in the previous year, the business earned $7.27 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that McKesson will post 32.07 EPS for the current fiscal year.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of McKesson during the 1st quarter valued at approximately $669,326,000. Bessemer Group Inc. grew its holdings in shares of McKesson by 3,621.7% during the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after purchasing an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new position in shares of McKesson in the 1st quarter worth $97,510,000. Third Point LLC bought a new stake in McKesson during the fourth quarter worth about $76,392,000. Finally, American Century Companies Inc. lifted its position in McKesson by 134.6% in the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock worth $128,850,000 after buying an additional 126,567 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.