McKesson (NYSE:MCK) Price Target Raised to $755.00

McKesson (NYSE:MCK - Free Report) had its price target raised by Bank of America from $665.00 to $755.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently commented on MCK. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Wells Fargo & Company increased their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $668.50.

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McKesson Stock Down 0.2 %

MCK stock traded down $1.55 during trading on Friday, reaching $692.43. 670,598 shares of the company's stock were exchanged, compared to its average volume of 931,824. The company's fifty day moving average price is $644.47 and its 200-day moving average price is $595.30. The firm has a market cap of $86.78 billion, a PE ratio of 31.70, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson has a 1-year low of $464.42 and a 1-year high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, sell-side analysts expect that McKesson will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson's dividend payout ratio (DPR) is currently 13.00%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock worth $10,855,706 over the last 90 days. Corporate insiders own 0.11% of the company's stock.

Hedge Funds Weigh In On McKesson

Several institutional investors have recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in McKesson in the 4th quarter valued at $26,000. Millstone Evans Group LLC acquired a new position in McKesson during the 4th quarter worth about $28,000. Synergy Asset Management LLC acquired a new stake in McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter worth approximately $33,000. Finally, Atala Financial Inc bought a new stake in shares of McKesson during the fourth quarter valued at approximately $34,000. 85.07% of the stock is 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.