McKesson (NYSE:MCK) Stock Price Expected to Rise, Citigroup Analyst Says

McKesson (NYSE:MCK) had its price target boosted by analysts at Citigroup from $630.00 to $713.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 13.73% from the stock’s current price.

Several other research analysts have also issued reports on MCK. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Evercore ISI increased their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Stock Up 1.5 %

Shares of NYSE MCK traded up $9.26 during trading on Wednesday, reaching $626.92. The company had a trading volume of 292,586 shares, compared to its average volume of 822,677. McKesson has a 12 month low of $431.35 and a 12 month high of $637.51. The company’s fifty day moving average price is $515.00 and its 200-day moving average price is $552.91. The stock has a market cap of $79.58 billion, a P/E ratio of 32.47, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the company earned $6.23 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities analysts predict that McKesson will post 32.81 earnings per share for the current year.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On McKesson

A number of hedge funds and other institutional investors have recently made changes to their positions in MCK. Massachusetts Financial Services Co. MA raised its position in shares of McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after purchasing an additional 46,659 shares during the period. FMR LLC lifted its position in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after acquiring an additional 36,583 shares during the last quarter. Finally, Swedbank AB acquired a new stake in McKesson in the 1st quarter valued at approximately $669,326,000. Institutional investors own 85.07% of the company’s stock.

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.