McKesson (NYSE:MCK) PT Raised to $570.00 at Argus

McKesson (NYSE:MCK) had its price objective increased by Argus from $510.00 to $570.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on the stock. Leerink Partnrs reiterated an outperform rating on shares of McKesson in a research note on Monday, February 26th. UBS Group increased their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a buy rating in a research note on Wednesday, March 6th. SVB Leerink began coverage on shares of McKesson in a report on Monday, February 26th. They set an outperform rating and a $600.00 target price on the stock. Barclays began coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an overweight rating and a $537.00 target price on the stock. Finally, Mizuho increased their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a neutral rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $528.64.

McKesson Trading Up 0.5 %

Shares of MCK stock opened at $529.99 on Wednesday. McKesson has a twelve month low of $352.34 and a twelve month high of $543.00. The company has a market capitalization of $69.64 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45. The firm has a fifty day simple moving average of $522.26 and a 200-day simple moving average of $482.59.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same period in the prior year, the firm posted $6.90 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts predict that McKesson will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On McKesson

Institutional investors and hedge funds have recently bought and sold shares of the stock. Garner Asset Management Corp bought a new position in McKesson in the 4th quarter valued at about $25,000. Sachetta LLC bought a new position in shares of McKesson during the 4th quarter valued at about $27,000. Legacy Financial Group LLC bought a new position in shares of McKesson during the 3rd quarter valued at about $27,000. OFI Invest Asset Management bought a new position in shares of McKesson during the 3rd quarter valued at about $26,000. Finally, Richardson Financial Services Inc. bought a new position in shares of McKesson during the 4th quarter valued at about $31,000. Institutional investors 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.