Evercore ISI Increases McKesson (NYSE:MCK) Price Target to $660.00

McKesson (NYSE:MCK) had its price objective boosted by analysts at Evercore ISI from $600.00 to $660.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 12.47% from the stock’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley increased their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. Bank of America boosted their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Wells Fargo & Company increased their target price on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $596.00.

McKesson Stock Up 0.0 %

MCK stock opened at $586.82 on Tuesday. The stock has a market capitalization of $76.25 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.45. The stock’s fifty day simple moving average is $574.01 and its 200-day simple moving average is $532.72. McKesson has a 52-week low of $395.30 and a 52-week high of $612.17.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the previous year, the company earned $7.19 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. As a group, analysts anticipate that McKesson will post 31.53 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Maria Martinez sold 483 shares of McKesson stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Maria Martinez sold 483 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan R. Salka sold 606 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was 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. In the last three months, insiders sold 29,567 shares of company stock worth $16,691,841. 0.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. LRI Investments LLC acquired a new stake in McKesson during the first quarter worth about $28,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson during the 1st quarter worth approximately $29,000. Sachetta LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. boosted its position in McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Finally, Richardson Financial Services Inc. acquired a new position in McKesson during the 4th quarter valued at approximately $31,000. 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.