JPMorgan Chase & Co. Increases McKesson (NYSE:MCK) Price Target to $514.00

McKesson (NYSE:MCKGet Free Report) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $495.00 to $514.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.05% from the company’s previous close.

Several other brokerages have also commented on MCK. Morgan Stanley raised their price target on shares of McKesson from $459.00 to $480.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. StockNews.com initiated coverage on McKesson in a research note on Thursday, October 5th. They issued a “strong-buy” rating for the company. UBS Group lifted their price objective on shares of McKesson from $470.00 to $480.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Argus increased their target price on shares of McKesson from $450.00 to $480.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Finally, Mizuho boosted their price target on shares of McKesson from $427.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $472.83.

View Our Latest Stock Analysis on MCK

McKesson Stock Down 0.0 %

Shares of NYSE:MCK traded down $0.11 during trading on Friday, hitting $450.67. 239,607 shares of the company traded hands, compared to its average volume of 870,824. The stock has a market capitalization of $59.97 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.56 and a beta of 0.56. McKesson has a one year low of $331.75 and a one year high of $473.18. The business’s fifty day moving average is $446.61 and its 200-day moving average is $420.26.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $6.11 by $0.12. McKesson had a negative return on equity of 241.79% and a net margin of 1.20%. The firm had revenue of $77.22 billion during the quarter, compared to the consensus estimate of $76.03 billion. During the same period in the prior year, the business earned $6.06 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. On average, analysts forecast that McKesson will post 27.23 EPS for the current year.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 25,246 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $422.58, for a total transaction of $10,668,454.68. Following the sale, the chief executive officer now directly owns 92,654 shares of the company’s stock, valued at approximately $39,153,727.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Brian S. Tyler sold 3,938 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $407.00, for a total transaction of $1,602,766.00. Following the transaction, the chief executive officer now directly owns 117,900 shares of the company’s stock, valued at $47,985,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 25,246 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $422.58, for a total transaction of $10,668,454.68. Following the completion of the sale, the chief executive officer now owns 92,654 shares of the company’s stock, valued at approximately $39,153,727.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,082 shares of company stock worth $30,258,690. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McKesson

A number of hedge funds have recently modified their holdings of MCK. Covestor Ltd grew its position in McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. lifted its stake in shares of McKesson by 313.3% in the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 62 shares of the company’s stock valued at $26,000 after purchasing an additional 47 shares during the last quarter. OFI Invest Asset Management bought a new stake in McKesson in the third quarter worth $26,000. Legacy Financial Group LLC acquired a new position in McKesson during the third quarter worth $27,000. Finally, Live Oak Investment Partners bought a new position in McKesson during the fourth quarter valued at about $30,000. 82.69% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for McKesson (NYSE:MCK)

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