McKesson (NYSE:MCK) Price Target Raised to $755.00 at Bank of America

McKesson (NYSE:MCK) had its price objective increased by Bank of America from $665.00 to $755.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Morgan Stanley upped their price objective on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Evercore ISI lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $668.50.

McKesson Trading Up 1.6 %

McKesson stock opened at $690.43 on Friday. McKesson has a 52 week low of $464.42 and a 52 week high of $728.32. The stock has a market cap of $86.53 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49. The company’s 50-day moving average price is $642.70 and its two-hundred day moving average price is $593.86.

McKesson (NYSE:MCK) last announced 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%. Research analysts expect that McKesson will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock valued at $10,855,706 in the last 90 days. 0.11% of the stock is currently owned by insiders.

Institutional Trading of McKesson

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital A Wealth Management LLC acquired a new position in McKesson in the fourth quarter valued at about $26,000. Millstone Evans Group LLC acquired a new stake in McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC bought a new position in McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust bought a new position in McKesson during the 4th quarter worth about $33,000. Finally, Atala Financial Inc bought a new stake in McKesson in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds 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.