Brokerages Set McKesson Co. (NYSE:MCK) Price Target at $610.86

Shares of McKesson Co. (NYSE:MCK) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $625.64.

A number of research firms have issued reports on MCK. JPMorgan Chase & Co. lifted their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Barclays lifted their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Citigroup cut their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.

Hedge Funds Weigh In On McKesson

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after acquiring an additional 46,659 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after acquiring an additional 36,583 shares in the last quarter. Swedbank AB bought a new stake in shares of McKesson during the first quarter valued at approximately $669,326,000. Boston Partners increased its holdings in shares of McKesson by 4.1% during the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after acquiring an additional 47,140 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after acquiring an additional 62,875 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of NYSE MCK opened at $613.00 on Thursday. McKesson has a 52 week low of $431.35 and a 52 week high of $637.51. The stock has a market capitalization of $79.49 billion, a P/E ratio of 31.75, a PEG ratio of 1.29 and a beta of 0.44. The stock’s fifty day moving average is $513.03 and its 200 day moving average is $551.60.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. 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 is currently 14.71%.

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.