Evercore ISI Issues Positive Forecast for McKesson (NYSE:MCK) Stock Price

McKesson (NYSE:MCK) had its price target boosted by Evercore ISI from $560.00 to $680.00 in a research report released on Thursday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research analysts also recently commented on MCK. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $531.00 to $688.00 in a research note on Thursday. Barclays lifted their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company decreased their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Mizuho lifted their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $625.64.

McKesson Stock Performance

McKesson stock traded up $5.49 during mid-day trading on Thursday, hitting $613.00. 1,270,690 shares of the company traded hands, compared to its average volume of 846,233. McKesson has a one year low of $431.35 and a one year high of $637.51. The stock has a market cap of $79.49 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44. The stock has a fifty day moving average price of $513.03 and a 200-day moving average price of $551.60.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 243.82%. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the business posted $6.23 earnings per share. Sell-side analysts predict that McKesson will post 31.92 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Activity

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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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 company. LRI Investments LLC purchased a new position in McKesson in the 1st quarter worth about $28,000. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the 3rd quarter worth about $29,000. ORG Wealth Partners LLC purchased a new position in McKesson in the 3rd quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in McKesson in the 2nd quarter worth about $52,000. 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.