McKesson (NYSE:MCK) Price Target Raised to $596.00 at Barclays

McKesson (NYSE:MCK) had its target price lifted by Barclays from $571.00 to $596.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on the company. Mizuho lifted their price target on McKesson from $450.00 to $505.00 and gave the stock a neutral rating in a report on Friday, February 9th. SVB Leerink initiated coverage on McKesson in a report on Monday, February 26th. They set an outperform rating and a $600.00 target price on the stock. Argus increased their price target on McKesson from $510.00 to $570.00 and gave the company a buy rating in a research note on Wednesday, April 10th. StockNews.com upgraded shares of McKesson from a buy rating to a strong-buy rating in a report on Saturday, May 4th. Finally, Citigroup increased their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McKesson presently has a consensus rating of Moderate Buy and a consensus price target of $571.47.

McKesson Trading Up 2.1 %

Shares of McKesson stock traded up $11.51 on Wednesday, reaching $555.12. 969,156 shares of the company were exchanged, compared to its average volume of 716,168. The company has a market capitalization of $72.95 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 1.41 and a beta of 0.45. McKesson has a one year low of $373.28 and a one year high of $566.01. The company has a 50-day moving average of $531.56 and a 200 day moving average of $494.15.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same period last year, the company posted $7.19 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. Analysts predict that McKesson will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.45%. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McKesson

Institutional investors and hedge funds have recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of McKesson in the third quarter valued at approximately $26,000. Sachetta LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $27,000. Register Financial Advisors LLC bought a new position in shares of McKesson during the first quarter valued at about $29,000. BKM Wealth Management LLC purchased a new position in McKesson during the fourth quarter worth about $31,000. Finally, Richardson Financial Services Inc. bought a new stake in McKesson in the 4th quarter worth about $31,000. Institutional investors and hedge funds 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.