Analysts Set McKesson Co. (NYSE:MCK) Target Price at $661.00

McKesson Co. (NYSE:MCK) has been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $661.00.

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Morgan Stanley upped their price objective on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Finally, Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

McKesson Price Performance

Shares of NYSE:MCK opened at $678.08 on Friday. The company has a market capitalization of $84.98 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.29 and a beta of 0.49. The business’s 50 day simple moving average is $640.96 and its 200 day simple moving average is $591.60. McKesson has a 1 year low of $464.42 and a 1 year high of $733.64.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts anticipate that McKesson will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by insiders.

Institutional Trading of McKesson

A number of institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its position in shares of McKesson by 2.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,057 shares of the company’s stock valued at $2,006,000 after purchasing an additional 81 shares during the last quarter. Redwood Investment Management LLC boosted its stake in McKesson by 3.6% in the third quarter. Redwood Investment Management LLC now owns 2,767 shares of the company’s stock valued at $1,353,000 after acquiring an additional 96 shares during the last quarter. Royal London Asset Management Ltd. grew its position in shares of McKesson by 2.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 60,606 shares of the company’s stock valued at $29,965,000 after acquiring an additional 1,431 shares during the period. Stifel Financial Corp increased its stake in shares of McKesson by 31.8% during the 3rd quarter. Stifel Financial Corp now owns 59,869 shares of the company’s stock worth $29,602,000 after purchasing an additional 14,439 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of McKesson during the 3rd quarter worth approximately $921,000. 85.07% of the stock is owned by hedge funds and other 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.