McKesson (NYSE:MCK) Stock Price Expected to Rise, Morgan Stanley Analyst Says

McKesson (NYSE:MCKFree Report) had its price objective boosted by Morgan Stanley from $612.00 to $642.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

MCK has been the subject of a number of other research reports. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Citigroup raised their price objective on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $650.14.

Check Out Our Latest Stock Analysis on McKesson

McKesson Trading Down 1.3 %

Shares of NYSE:MCK opened at $562.79 on Tuesday. The stock has a market capitalization of $71.44 billion, a PE ratio of 29.15, a PEG ratio of 1.25 and a beta of 0.49. The firm has a 50 day moving average of $567.09 and a 200-day moving average of $562.78. McKesson has a 12 month low of $441.68 and a 12 month high of $637.51.

McKesson (NYSE:MCKGet Free Report) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the prior year, the company earned $6.23 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. On average, research analysts predict that McKesson will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.50%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

A number of large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of McKesson by 22.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 44,994 shares of the company’s stock valued at $26,278,000 after buying an additional 8,395 shares during the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of McKesson by 0.9% in the second quarter. Atria Wealth Solutions Inc. now owns 8,901 shares of the company’s stock valued at $5,203,000 after purchasing an additional 77 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of McKesson during the second quarter valued at approximately $401,000. GYL Financial Synergies LLC grew its holdings in McKesson by 66.9% during the second quarter. GYL Financial Synergies LLC now owns 9,921 shares of the company’s stock worth $5,794,000 after buying an additional 3,977 shares in the last quarter. Finally, HTLF Bank raised its position in McKesson by 5.2% in the 2nd quarter. HTLF Bank now owns 729 shares of the company’s stock valued at $426,000 after buying an additional 36 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

About McKesson

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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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