McKesson (NYSE:MCK) Given a $766.00 Price Target at Wells Fargo & Company

McKesson (NYSE:MCKGet Free Report) has been given a $766.00 price target by stock analysts at Wells Fargo & Company in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.81% from the stock’s previous close.

MCK has been the topic of several other research reports. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. UBS Group lifted their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Wall Street Zen raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. Finally, Morgan Stanley raised their price target on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $692.46.

View Our Latest Stock Analysis on McKesson

McKesson Price Performance

Shares of MCK stock traded down $1.07 during trading hours on Tuesday, reaching $710.53. 257,252 shares of the stock were exchanged, compared to its average volume of 913,688. McKesson has a 12-month low of $464.42 and a 12-month high of $731.00. The business’s fifty day moving average is $698.91 and its two-hundred day moving average is $640.44. The firm has a market capitalization of $88.90 billion, a P/E ratio of 32.50, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.18 EPS. As a group, equities research analysts predict that McKesson will post 32.77 earnings per share for the current fiscal year.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares of the company’s stock, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas L. Rodgers sold 510 shares of McKesson stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $366,134.10. Following the sale, the executive vice president now owns 5,435 shares of the company’s stock, valued at approximately $3,901,840.85. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,747 shares of company stock valued at $9,852,587 in the last three months. 0.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McKesson

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Norges Bank acquired a new stake in McKesson in the 4th quarter valued at about $1,200,361,000. Nuveen LLC purchased a new position in McKesson during the 1st quarter valued at about $475,235,000. Farallon Capital Management LLC purchased a new position in McKesson during the 4th quarter valued at about $348,044,000. Finally, Wellington Management Group LLP raised its position in McKesson by 4,559.6% during the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after acquiring an additional 418,524 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for McKesson (NYSE:MCK)

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