Citigroup Lowers McKesson (NYSE:MCK) Price Target to $677.00

McKesson (NYSE:MCK - Get Free Report) had its target price lowered by equities research analysts at Citigroup from $713.00 to $677.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective points to a potential upside of 16.38% from the company's previous close.

MCK has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reduced their price objective on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Evercore ISI upped their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of "Moderate Buy" and an average price target of $646.14.

McKesson Price Performance

MCK stock traded down $8.53 during mid-day trading on Friday, hitting $581.73. 597,052 shares of the stock were exchanged, compared to its average volume of 615,492. The stock has a market capitalization of $73.84 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.25 and a beta of 0.52. The business has a fifty day moving average price of $592.54 and a 200 day moving average price of $561.46. McKesson has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson's revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.23 earnings per share. As a group, equities analysts forecast that McKesson will post 32.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company's stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter worth $29,000. Wolff Wiese Magana LLC increased its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the third quarter worth about $31,000. ORG Wealth Partners LLC purchased a new position in McKesson during the 3rd quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock valued at $47,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Company Profile

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.