McKesson (NYSE:MCK) PT Lowered to $579.00

McKesson (NYSE:MCK) had its target price reduced by investment analysts at Deutsche Bank Aktiengesellschaft from $623.00 to $579.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 20.99% from the company’s current price.

Several other brokerages also recently weighed in on MCK. JPMorgan Chase & Co. lifted their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI reduced their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company lowered their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Citigroup reduced their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $613.36.

McKesson Trading Down 0.4 %

MCK traded down $1.92 during trading on Wednesday, reaching $478.57. 708,881 shares of the company were exchanged, compared to its average volume of 794,792. The firm has a 50 day moving average of $556.72 and a 200 day moving average of $556.74. The stock has a market cap of $62.06 billion, a P/E ratio of 21.38, a PEG ratio of 1.18 and a beta of 0.44. McKesson has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the previous year, the business posted $7.27 EPS. McKesson’s revenue was up 6.4% on a year-over-year basis. As a group, analysts forecast that McKesson will post 32.07 earnings per share for the current fiscal year.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 11,259 shares of company stock worth $6,635,492 over the last 90 days. 0.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCK. RFP Financial Group LLC boosted its stake in shares of McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after buying an additional 17 shares during the period. Modera Wealth Management LLC boosted its position in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC grew its stake in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after purchasing an additional 17 shares in the last quarter. First Western Trust Bank increased its position in McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after purchasing an additional 18 shares during the last quarter. Finally, Lindbrook Capital LLC raised its stake in shares of McKesson by 1.7% during the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock worth $608,000 after purchasing an additional 19 shares in the last quarter. 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.