Citigroup Raises McKesson (NYSE:MCK) Price Target to $670.00

McKesson (NYSE:MCK) had its target price hoisted by Citigroup from $620.00 to $670.00 in a research note issued to investors on Friday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. StockNews.com cut McKesson from a strong-buy rating to a buy rating in a research note on Tuesday, July 2nd. UBS Group raised their price target on McKesson from $620.00 to $630.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Wells Fargo & Company raised their price target on McKesson from $502.00 to $551.00 and gave the company an equal weight rating in a research note on Thursday, May 9th. Robert W. Baird raised their price target on McKesson from $679.00 to $694.00 and gave the company an outperform rating in a research note on Tuesday, July 9th. Finally, TD Cowen lifted their target price on McKesson from $563.00 to $652.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, McKesson has an average rating of Moderate Buy and a consensus target price of $599.33.

McKesson Trading Up 0.5 %

NYSE:MCK opened at $583.00 on Friday. The firm has a market cap of $75.76 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.35 and a beta of 0.45. The stock has a fifty day moving average price of $579.77 and a 200 day moving average price of $539.70. McKesson has a 12-month low of $395.30 and a 12-month high of $612.17.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the prior year, the business earned $7.19 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts forecast that McKesson will post 31.67 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Insider Activity at McKesson

In related news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other McKesson news, EVP Leann B. Smith sold 704 shares of McKesson stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the sale, the executive vice president now owns 2,215 shares of the company’s stock, valued at approximately $1,236,169.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Insiders have sold 29,567 shares of company stock worth $16,691,841 in the last quarter. Company insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

A number of institutional investors have recently added to or reduced their stakes in MCK. Atria Wealth Solutions Inc. boosted its stake in shares of McKesson by 0.9% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 8,901 shares of the company’s stock worth $5,203,000 after acquiring an additional 77 shares in the last quarter. Argus Investors Counsel Inc. boosted its stake in shares of McKesson by 7.6% during the 2nd quarter. Argus Investors Counsel Inc. now owns 4,623 shares of the company’s stock worth $2,700,000 after acquiring an additional 328 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of McKesson by 2.6% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,367 shares of the company’s stock worth $2,551,000 after acquiring an additional 110 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of McKesson by 7.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 418 shares of the company’s stock worth $245,000 after acquiring an additional 30 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in shares of McKesson by 7.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,584 shares of the company’s stock worth $1,509,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.