Citigroup Raises McKesson (NYSE:MCK) Price Target to $620.00

McKesson (NYSE:MCK) had its price target raised by Citigroup from $575.00 to $620.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Mizuho boosted their price target on McKesson from $450.00 to $505.00 and gave the company a neutral rating in a research note on Friday, February 9th. UBS Group increased their target price on McKesson from $575.00 to $620.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Argus boosted 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 research note on Thursday, April 25th. Finally, Barclays began coverage on shares of McKesson in a report on Wednesday, January 3rd. They issued an overweight rating and a $537.00 target price on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of Moderate Buy and a consensus price target of $536.71.

McKesson Trading Down 0.3 %

NYSE:MCK opened at $528.85 on Tuesday. The stock has a 50 day simple moving average of $530.13 and a 200 day simple moving average of $491.57. The stock has a market cap of $69.50 billion, a P/E ratio of 23.96, a PEG ratio of 1.41 and a beta of 0.45. McKesson has a 1-year low of $352.34 and a 1-year high of $544.81.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter last year, the firm earned $6.90 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio is currently 11.24%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value 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 $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the company’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 in the company, 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.

Institutional Trading of McKesson

Several institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new position in shares of McKesson in the 3rd quarter worth approximately $26,000. Legacy Financial Group LLC acquired a new position in McKesson in the third quarter valued at $27,000. Sachetta LLC bought a new stake in McKesson during the fourth quarter valued at $27,000. Register Financial Advisors LLC acquired a new stake in McKesson during the 1st quarter worth about $29,000. Finally, BKM Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $31,000. 85.07% of the stock is currently owned by institutional investors.

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.