McKesson (NYSE:MCK) Price Target Raised to $691.00 at Wells Fargo & Company

McKesson (NYSE:MCK) had its target price boosted by Wells Fargo & Company from $641.00 to $691.00 in a report published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also weighed in on MCK. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Finally, Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $649.36.

McKesson Trading Up 1.1 %

NYSE:MCK opened at $650.96 on Friday. The firm has a market capitalization of $81.58 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.29 and a beta of 0.52. McKesson has a 1-year low of $464.42 and a 1-year high of $663.62. The business’s fifty day moving average price is $608.54 and its 200 day moving average price is $570.71.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts forecast that McKesson will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s payout ratio is 13.00%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock worth $11,187,351 in the last 90 days. 0.11% of the stock is owned by company insiders.

Institutional Trading of McKesson

A number of hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in shares of McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares during the period. FMR LLC raised its holdings in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of McKesson by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company’s stock worth $1,622,754,000 after buying an additional 222,496 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock worth $1,513,195,000 after buying an additional 10,015 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock worth $1,493,704,000 after buying an additional 114,396 shares in the last quarter. 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.