Morgan Stanley Increases McKesson (NYSE:MCK) Price Target to $642.00

McKesson (NYSE:MCK - Get Free Report) had its target price increased by analysts at Morgan Stanley from $612.00 to $642.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 14.07% from the stock's previous close.

MCK has been the subject of several other reports. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price for the company. Citigroup raised their target price on McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $650.14.

McKesson Trading Down 1.3 %

NYSE:MCK traded down $7.28 during trading hours on Tuesday, reaching $562.79. 1,050,009 shares of the company traded hands, compared to its average volume of 818,747. The business's 50-day moving average price is $565.74 and its two-hundred day moving average price is $562.83. The stock has a market capitalization of $71.44 billion, a P/E ratio of 29.07, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson has a 1 year low of $441.68 and a 1 year 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. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same quarter last year, the company posted $6.23 earnings per share. The firm's quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities analysts anticipate that McKesson will post 32.73 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of McKesson 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 transaction, the executive vice president now directly owns 1,443 shares of the company's stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is owned by insiders.

Hedge Funds Weigh In On McKesson

A number of large investors have recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the 3rd quarter valued at about $29,000. Wolff Wiese Magana LLC grew its position in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after purchasing an additional 52 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in McKesson during the second quarter valued at approximately $52,000. 85.07% of the stock is currently 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.