McKesson (NYSE:MCK) Given New $690.00 Price Target at Mizuho

McKesson (NYSE:MCK) had its price objective upped by Mizuho from $630.00 to $690.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley lifted their target price on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company increased their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Evercore ISI upped their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $661.00.

McKesson Price Performance

MCK opened at $682.41 on Thursday. McKesson has a one year low of $464.42 and a one year high of $728.32. The firm has a market capitalization of $85.52 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The company has a fifty day moving average price of $633.37 and a 200-day moving average price of $585.40.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 EPS 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%. On average, analysts expect that McKesson will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,110 shares of company stock valued at $10,855,706. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

Large investors have recently bought and sold shares of the business. Cibc World Market Inc. grew its stake in shares of McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after acquiring an additional 1,207 shares during the period. West Oak Capital LLC grew its position in McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 2,690 shares during the period. Brentview Investment Management LLC purchased a new stake in McKesson during the 4th quarter valued at $3,018,000. Ingalls & Snyder LLC lifted its holdings in shares of McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after buying an additional 1,047 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

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.