McKesson (NYSE:MCK) Given New $675.00 Price Target at Evercore ISI

McKesson (NYSE:MCK) had its price objective boosted by Evercore ISI from $650.00 to $675.00 in a research note released on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $645.79.

McKesson Trading Down 1.3 %

MCK opened at $598.85 on Thursday. McKesson has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a market capitalization of $76.02 billion, a PE ratio of 31.01, a PEG ratio of 1.29 and a beta of 0.52. The firm’s 50 day simple moving average is $589.61 and its two-hundred day simple moving average is $562.56.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. Equities analysts forecast that McKesson will post 32.72 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is currently 14.71%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Czech National Bank boosted its stake in shares of McKesson by 6.6% during the 3rd quarter. Czech National Bank now owns 26,416 shares of the company’s stock worth $13,061,000 after purchasing an additional 1,645 shares during the period. Brookstone Capital Management boosted its stake in shares of McKesson by 15.2% during the 3rd quarter. Brookstone Capital Management now owns 7,336 shares of the company’s stock worth $3,627,000 after purchasing an additional 968 shares during the period. Strategic Wealth Partners Ltd. boosted its stake in shares of McKesson by 14.2% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 660 shares of the company’s stock worth $326,000 after purchasing an additional 82 shares during the period. Sanibel Captiva Trust Company Inc. boosted its stake in shares of McKesson by 2.9% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 38,161 shares of the company’s stock worth $18,868,000 after purchasing an additional 1,083 shares during the period. Finally, Steigerwald Gordon & Koch Inc. boosted its stake in shares of McKesson by 6.5% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 36,008 shares of the company’s stock worth $17,803,000 after purchasing an additional 2,204 shares during the period. 85.07% of the stock is owned by hedge funds and other 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.